Singapore shares ease 0.42% as investors await end of Fed policy meeting

SINGAPORE stocks slipped slightly amid mixed regional sentiment on Wednesday, as investors awaited the outcome of the United States Federal Reserve meeting.

The benchmark Straits Times Index slid 13.09 points, or 0.42 per cent, to 3,080.75, with 2.3 billion shares worth $1.2 billion traded.

All eyes were on the Fed meeting which is due to end early Thursday morning Singapore time.

Key regional markets were mixed, with Japan up 0.36 per cent but Hong Kong closed flat.

Back home, 17 of the 30 STI component stocks finished lower, with seven gainers and six unchanged.

CapitaLand shed two cents to $2.72 and dropped to a 21-month low of $2.70 during the session, after it said it had sold its remaining stake in Australia's Australand Property Group.

Singapore packaging company Goodpack Limited jumped 20 cents to $2.23 after it said it was in talks with parties who may be interested in making an offer for the company.

Discussions are currently underway and "there is no certainty whatsoever that these discussions will result in any transaction", said Goodpack.

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