Penny stocks carry the load as blue chips falter

HONG KONG's Hang Seng Index may have enjoyed a massive "catch-up'' rally on Wednesday to the tune of almost 4 per cent but there was no effect here, with the Straits Times Index (STI) sliding 4.94 points to 3,460.68. With blue chips languishing, it was left to penny stocks to keep interest alive and in this regard they did not disappoint - 17 of the 20 most active stocks were priced below S$0.50.

Overall turnover amounted to two billion units worth S$1.1 billion for an a…