Penny stocks rule as banks bolster STI

ELEVATED penny stock punting and a push on banks UOB and OCBC provided the main features of Tuesday's trading, in which the Straits Times Index (STI) rose 14.73 points to 3,071.64. Turnover amounted to a healthy 3.67 billion units worth S$1.3 billion and, excluding warrants, there were 252 rises versus 207 falls.

More than two-thirds of the STI's rise came from gains in OCBC and UOB, with notable contributions from Keppel Corp and City Developments. …