Penny stock CEFC's rise draws attention
Interest in other penny stocks also go up; the STI logs a 20.03-point rise as Grexit fears fade for the time being
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MOST observers would look at movements in the Straits Times Index (STI) to gauge the state of the market, but on Monday, all eyes were on penny stock CEFC International. Shares of the petrochemical firm shot up S$0.08 or 80 per cent to S$0.18 on volume of 127.5 million. A week ago, the counter had traded for around S$0.03, which means it has risen six times in as many trading sessions.
With CEFC demonstrating the potential of the penny segment, interest in several others also picked up - Sino Construction, Polaris, LionGold and Vallianz to name a few.
The STI, in the meantime, managed a 20.03-point rise to 3,373.48 - not surprising given that worries surrounding Greece have receded for the time being.
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