PENNY-STOCK fever gripped the local stock market on Tuesday as the market's latest leader, CEFC International, continued its gravity-defying run with a stunning 64 per cent gain that took its rise in a little over a week to almost 900 per cent, creating spillover rises for several other low-priced issues such as Oceanus, Foreland Fabrictech, Sino Construction and WE.The largest percentage gain for the day was reserved for China shoe-sole maker Qingmei, which rocketed up S$0.026 or 325 per cent to S$0.034 on a volume of 155.2 million.
Blue chips in the meantime stagnated, possibly as attention was diverted to penny stocks. The Straits Times Index underwent an unremarkable session, drifting within a narrow band before ending 2.07 points weaker at 3,371.41.
Turnover in unit terms rose to 3.2 billion units from an average of about 1.2 billion last week, though in dollar terms it amounted to only S$984.5 million. The top 20 active stocks were all priced below S$0.30 and the average unit value traded was S$0.31 - a clear indication of where the action for the day lay.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment