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ST Index creeps up to 7-year high

Index gains 0.5% despite weak economic news from China, but trading action remains stubbornly in penny stocks

THE local market managed to brush off gloomy global economic figures to reach a fresh high on Wednesday but may well find its "penny" market reputation harder to shake.

Although the Straits Times Index climbed to its highest point in slightly over seven years, gaining 0.5 per cent, or 18.