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Hot stock: Genting drops below S$1.00

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CASINO operator Genting Singapore has hit a fresh 52-week low in Wednesday's trading, falling below the psychologically significant S$1 mark to hit S$0.99.

Over 30 million shares were traded by around 1pm, making it the top stock by value traded on the Singapore Exchange. It was trading between S$0.99 and S$0.995.

The company has been buying back its shares. It was hit by a 50 per cent fall in quarterly profit to S$97.4 million in November last year amid a slump in Chinese visitors to Singapore.

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