Singapore stocks extend losses to day 4; Asian shares decline

SGX Logo. Reuters

Singapore shares declined for a fifth session on Wednesday, dragged lower by lenders such as DBS Group and United Overseas Bank.

Asian shares fell, taking their cues from Wall Street with investor enthusiasm toward U.S. tax changes ebbing.

The U.S. House of Representatives voted to approve the tax bill Tuesday, but will have to vote again today because the current draft doesn't comply with Senate rules.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 percent in early trading, while Japan's Nikkei stock index .N225 also edged down 0.2 percent.

At 0510 GMT, the Straits Times Index fell 0.18 percent or 6 points to 3,398. It ended 0.3 percent lower on Tuesday, taking the year-to-date performance to about 18 percent.

Shares of United Overseas Bank lost 0.2 percent and DBS Group Holdings edged down 0.1 percent. Oversea-Chinese Banking rose 0.7 percent.

Brewing group Thai Beverage lost 0.5 percent after it won an auction to buy a $4.8 billion stake in Vietnam's top brewer Sabeco.

About 792 million shares worth S$488 million changed hands, with losers outnumbering gainers 173 to 118.