Singapore stocks subdued as U.S. markets closed for Thanksgiving, Japan shut

Singapore stocks edged lower after four-day rally on Thursday as subdued trading in the U.S. going into the Thanksgiving holiday carried over into Asia.

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Singapore stocks edged lower after four-day rally on Thursday as subdued trading in the U.S. going into the Thanksgiving holiday carried over into Asia.

Moves in Asian share markets were minor with Japanese markets closed for a holiday and the United States off for Thanksgiving.

MSCI's broadest index of Asia-Pacific shares outside Japan eked out a fresh 10-year peak with a rise of 0.15 percent, as did Hong Kong's main index.

The dollar held onto losses after tumbling as the latest Federal Reserve meeting minutes highlighted a dovish tilt that showed divisions over the future path for U.S. monetary policy.

At 0510 GMT, the Straits Times Index fell 0.05 percent or 2 points to 3,428. It ended 0.19 percent higher on Wednesday, taking the year-to-date performance to about 19 percent.

Positive economic data back home capped any huge fall in shares. Singapore's economy grew much faster than initially estimated in the third quarter, beating analysts' expectations, helped by strength in manufacturing activity.

United Overseas Bank gained 0.4 percent, DBS Group Holdings advanced 0.2 percent while Oversea-Chinese Bank lost 0.3 percent.

Capital World rose 1.2 percent after its unit, Baiduri Megaria Sdn. Bhd., agreed to buy Malaysian real estate firm Kekal Efektif for 63 million ringgit (S$20.6 million).

About 1.5 billion shares worth S$458 million changed hands, with losers outnumbering gainers 232 to 102.

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