Market Round-Up: What did you miss? A quick look at all the market moving events and big financial news of the day. From Great Eastern Holdings' divestment talks to United Engineers' takeover lapse, get your daily dose of all the latest in the world of business right here.
SGX Logo. Reuters
Singapore stocks edged lower on Wednesday, as investors braced for caution ahead of the Federal Reserve monetary policy decision later in the day. The Straits Times Index fell 0.24 percent or 8 points to end at 3,218. Shares in taxi operator ComfortDelGro fell 1.5 percent, its third straight decline after its unit SBS Transit lost the tender to operate the Thomson-East Coast line to competitor SMRT. Singapore Technologies Engineering said it invested US$5.8 million (about S$7.8 million) for a minority stake in U.S.-based cyber security provider Janus Technologies Inc. Its shares fell 0.4 percent. United Engineers shares lost 2 percent after the takeover offer by Perennial-Yanlord consortium for its ordinary shares lapsed on Tuesday as there were few takers. Keppel Group's unit Keppel Land said it acquired a prime site in Jakarta's central business district for 586 billion Indonesian rupiah (about S$60 million). Keppel Corp shares ended down 0.2 percent. Life insurance company Great Eastern Holdings is mulling to divest its stake in Malaysia operations for US$1 billion, the Wall Street Journal reported on Tuesday.