Singapore shares set to snap 2 weeks of losses
SINGAPORE, Dec 20 - Singapore shares were poised to snap a two-week losing streak, encouraged by the U.S. Federal Reserve's decision to keep interest rates low as it begins to trim its bond-buying programme, while trading was weak ahead of year-end holidays.
The benchmark Straits Times Index was up 0.3 percent at 3,079.35 by 0423 GMT in thin trading, on track for a 0.4 percent weekly rise. Nearly 70 million shares were traded, just below a third of its average 30-day full-day volume.
The MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 percent.
Top index performers were Hutchison Port Holdings Trust and CapitaMall Trust, both of which were hit hard in the previous session.
Business trusts and Real Estate Investment Trusts (REITs), investors' favourites in a low interest rate environment as they provide high yields, have been losing their sheen. The FT ST REIT index has slumped more than 10 percent so far this year, after rallying 37 percent in 2012.
HPH Trust rebounded more than 2 percent to $0.645, but is headed for an 18 percent fall in 2013. CapitaMall Trust gained 2.2 percent to S$1.86, hovering above a near 18-month low of S$1.81 hit in the previous session.
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