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Another weak day for local stocks

STI falls 25.5 points on market turnover of only S$734m; average value per unit traded of S$0.56 indicates interest in penny stocks

IT'S difficult not to agree with trading representatives who claim that present market conditions are the worst in at least 20 years, not when turnover on Wednesday was a paltry 1.3 billion units worth S$734 million, the Straits Times Index (STI) dropped 25.48 points to 2,828.57, and a large institution like HSBC Global Research has announced earlier in the week it has stopped covering Keppel Corp, a bastion of the local market.

The average value per unit traded on Wednesday worked out to S$0.56,...

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