Singapore shares closed down 1.73 percent on Wednesday, giving up earlier gains. The blue chip Straits Times Index fell 33.08 points to 1,880.58 on volume of 2.11 billion shares worth 1.75 billion dollars (1.19 billion US). Losers led gainers 238 to 219 with 793 issues unchanged.
The index had risen more than two percent in morning trade. Analysts said the large variations were not a surprise. Property giant CapitaLand was among the biggest losers, down 28 cents to 3.12. Semcorp Marine fell five cents to 1.92 while beverage maker Fraser and Neave dropped 24 cents to 3.13. Telecommunications stocks, which are considered defensive plays, also fell with investors increasingly inclined to make riskier bets. Singapore Telecommunications dropped eight cents to 2.52.