Roundup: Singapore stocks end down 0.39 pct

Singapore shares closed 0.39 percent lower on Wednesday as investors cautiously waited for U.S. Federal Reserve policy decision later in the day.

The Federal Reserve is expected to keep interest rates unchanged this week and may be vague in its policy statement whether it will tighten monetary policy before the end of the year in the face of U.S. and global economic headwinds.

Singapore's benchmark Straits Times Index fell 12.02 points to 3,040.51 points. Trading volume was 1.02 billion shares worth 826 million Singapore dollars. Decliners outnumbered advancers 208 to 172, while 553 stocks did not move.

Oxley Holdings closed flat at 42.5 Singapore cents. The property developer reported a jump in net profit for first quarter to 35 million Singapore dollars from 10 million Singapore dollars a year ago. Its revenue also rose to 434 million Singapore dollars from 120 million Singapore dollars, led by revenue recognition from Oxley's industrial property development. Oxley declared an interim dividend of 0.5 Singapore cents per share.

Singapore Post Limited inched up 0.3 percent to 1.905 Singapore dollars. It said it would develop a shopping mall in Singapore at the construction cost of about 150 million Singapore dollars to accommodate online retailers. Being scheduled to be completed around mid-2017, the mall will allow customers to place their orders in the shop and arrange for delivery of products to their homes.

Among the top gainers, Jardine Matheson jumped 1 percent to 54.1 U.S. dollars, whereas Jardine Cycle and Carriage became one of the top losers by falling 2.7 percent to 32.40 Singapore dollars. (1 U.S. dollar equals to 1.40 Singapore dollars) Endit