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SINGAPORE : Singapore shares closed 1.69 per cent lower on Wednesday in line with other regional markets due to general weakness on Wall Street, dealers said.
The Straits Timex Index fell 45.52 points to 2,648.98. Volume was 1.6 billion shares. Losers led gainers 398 to 102.
"The market has run ahead, we need confirmation of recovery from the real economy, otherwise there will be a real reluctance to push higher," a trader with a local trading house told Dow Jones Newswires.
Another trader with a local brokerage said: "Investors are content to sit on the holdings they've got at the moment as they are too greedy to cash out. But at the same time, there's no real appetite to buy."
Oversea-Chinese Banking Corp, which reported a 12 per cent on-year rise in third quarter net profit, was unchanged at S$7.53. DBS Bank rose four cents to S$12.98 and United Overseas Bank dropped 46 cents to S$16.94.
Singapore Telecom eased six cents to S$3.04 and Singapore Airlines tumbled 24 cents to S$13.64.
CapitaLand fell 15 cents to S$4.15, Keppel Land was down one cent to S$2.82 and City Developments finished 18 cents lower at S$10.06. - AFP/ms
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