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Singapore stocks close slightly weaker as traders wait for FOMC direction

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TRADING was mostly directionless on Tuesday as the market here waited for the completion of the two-day US Federal Open Markets 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 net 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 Developments and Keppel Corp provided the greatest drag.

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