SINGAPORE Jan 22 Singapore shares were little
changed on Wednesday as expectations of more reductions in the
U.S. Federal Reserve's stimulus kept Asian stock markets
The benchmark Straits Times Index was nearly flat
at 3,134.25 at 0436 GMT in thin trading volume, while the MSCI's
broadest index of Asia-Pacific shares outside Japan
inched up 0.1 percent.
The top performer on the Singapore index was Global Logistic
Properties Ltd, climbing as much as 1 percent to
S$2.93. The warehouse operator was the second top-traded stock
by value, with shares trading at 1.3 times its average 30-day
Units of Mapletree Logistics Trust jumped as much
as 1.4 percent to a more than one-week highof S$1.05 after the
real estate investment trust (REIT) said its third-quarter gross
revenue and distribution per unit (DPU) rose by 0.9 and 7
Maybank Kim Eng maintained its "sell" rating on the stock
with a target price of S$0.98 as a weakening yen caused
Mapletree's Japanese portfolio to continue to languish. The
brokerage also cut its DPU forecasts in anticipation of lower
growth prospects and higher borrowing costs.
Singapore Exchange Ltd announced it will bring in
circuit breakers for its securities market on Feb. 24, as it
responds to criticism following a penny stock crash in October.