Traders hesitant ahead of Fed meeting

AN uneasy calm descended upon the local stock market on Tuesday with traders hesitant to commit themselves ahead of the US Federal Open Market Committee (FOMC) meeting this week and next week's UK referendum on continued membership in the European Union.

Turnover, which has already been poor over the past few weeks, remained low at 949 million units worth S$815.4 million, of which S$578 million or 71 per cent came from the 30 Straits Times Index components. The STI in the meantime, s…