A trader looks at electronic screens on the dealing floor at DBS Bank's new headquarters in Singapore. REUTERS

Singapore stocks fell more than 1 percent on Wednesday, taking cues from Asian shares following losses on Wall Street as the technology sector stuttered yet again.

Asian stocks are poised for the longest losing streak in two years as commodities companies led declines.

Weaker copper also checked risk sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.9 percent.

Investors are awaiting catalysts that would provide reason to add to risk assets before the year draws to a close.Friday's U.S. jobs report is the next big data release on the calendar.

The Straits Times Index dropped 1.2 percent or 41 points to 3,397. It ended 0.01 percent lower on Tuesday, taking the year-to-date performance to about 19 percent.

United Overseas Bank fell 2.3 percent, Oversea-Chinese Banking lost 3.1 percent while DBS Group Holdings declined 2.5 percent.

Singapore-listed miner Alliance Mineral Assets jumped 3 percent after nearly 40 million shares belonging to substantial shareholder Living Waters Mining Australia (LWMA) were seized.

Sembcorp Marine on Tuesday said its unit Sembcorp Marine Rigs & Floaters signed a letter of intent with Shell Offshore for the construction of the hull and topside as well as the integration of the Vito floating production unit. Shares in the company closed down 1 percent.

About 1.9 billion shares worth S$1.2 billion changed hands, with losers outnumbering gainers 285 to 145.