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SGX logo. Reuters

Singapore stocks edged lower on Wednesday, as investors braced for caution ahead of the Federal Reserve monetary policy policy later in the day.

MSCI's broadest index of Asia-Pacific shares outside Japan stood little changed. Japan's Nikkei was flat. Shanghai lost 0.2 percent while Hong Kong's Hang Seng added 0.2 percent.

At a two-day meeting that began on Tuesday, the Fed is expected to take another step toward policy normalization and announce plans to begin unwinding its $4.2 trillion portfolio of Treasuries and mortgage-backed securities, Reuters reported.

At xx GMT, the Straits Times Index fell 0.21 percent or 7 points to 3,219. It ended 0.49 percent lower on Tuesday, taking the year-to-date performance to about 12 percent.

Jardine Matheson Holdings fell 1 percent.

Shares in taxi operator ComfortDelGro fell 1 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 0.6 percent.

United Engineers shares lost 1 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 were unchanged at S$6.38.

About 981 million shares worth S$378 million changed hands, with losers outnumbering gainers 150 to 147.