OVERCAST and dam-pened, the local stock market seemed to be taking its cues from typical English weather over the past week as worries over Britain potentially voting to leave the European Union (EU) rained on sentiments for most of the five days of trading.

Singapore equities took a pounding at the start of the week and continued to head downwards on a bumpy slope despite brief patches of respite. Turnover was poor for most of the week except Friday, which was the only session where total value traded managed to end above the S$1 billion line.

Though the benchmark Straits Times Index (STI) managed to claw its way up by 0.4 per cent or 11.86 points up, its subdued finish at 2,763.42 points only lent to the tense atmosphere ahead of the British referendum to be held on June 23. It ended the week 2.1 per cent below the end of the previous week of trading. That spelled a dismal end to what had been a winning streak for the STI, which had prior to this chalked up four consecutive weekly gains.