Featureless trading ahead of UK vote

NOT surprisingly, trading on Tuesday was quiet, largely featureless and mainly weak ahead of Thursday's UK referendum on whether to remain or exit the European Union.

The Straits Times Index, which on Monday had enjoyed a 30-point push reportedly because opinion polls suggested a victory for the "remain" camp, spent most of the day in the red, ending a net 11.42 points lower at 2,789.45. Turnover, however, was a poor 985 million units worth S$942 million despite being boosted by the debut of Frasers Logistics and Industrial Trust (FLT) that accounted for S$128 million.

One broker described the session as "the same old, same old", ie there was largely no difference between Tuesday and any other day this year.