STI drifts amid falls in HK, Dow futures

TRADING was mostly directionless on Tuesday as the market here waited for the completion of the two-day US Federal Open Market Committee (FOMC) meeting on Wednesday.

With Hong Kong's Hang Seng Index and the Dow futures both spending all of the session below water, the Straits Times Index drifted to a loss of 3.75 points at 3,143.40.

Turnover amounted to 2.07 billion units worth S$1.2 billion and excluding warrants there were 187 rises versus 291 falls.

Most of the support for the index came from gains in the three banks and Jardine Matheson. On the downside, falls in property stocks CapitaLand, City Developmen…