Singapore shares extended their losses at opening on Wednesday, tracking the weak sentiment in global markets driven by the selloff in the semiconductor space.

The Straits Times Index opened lower by 0.95%, or 54.1 points, at 5,647.260.

Continued uncertainty around the Middle East crisis and rising crude prices also dampened sentiment in the market. Investors will also keenly eye the minutes from the US Federal Reserve's latest meeting on Wednesday, which may provide some insight into policymakers' thinking about the future of interest rates.