SGX Singapore Closing Market Update : Epic Research Singapore

INTEREST in blue chips has dipped sharply over the past few weeks but although dollar volume on Monday was still heavily concentrated in the 30 Straits Times Index (STI) components, speculative small caps were the main volume play, led by some of the names involved in the penny stock crash of October 2013.

These included LionGold, Blumont and Attilan Group, the latter being the new name of Asiasons Capital which - together with LionGold and Blumont - were the three central players 31 months ago whose collapse triggered spillover selling of the entire small cap sector.

The STI, in the meantime, managed a 1.15 point rise to 2,736.06 but it was the pennies which occupied most of the market's attention.

The leader of the penny surge this time was fund manager ISR Capital, which last Monday traded for S$0.006 but this Monday rose S$0.035 or 42.7 per cent to S$0.117 on volume of 43.5 million, a gain of 1,850 per cent in six trading sessions.

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