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Singapore shares close 1% down on Tuesday

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THE local market finished 0.98 per cent lower on Tuesday with the Straits Times Index retreating 32.33 points to 3,281.09 as China stocks continued to trade lower.

Penny-stock activity was rampant as about 2.3 billion shares worth S$1.37 billion in total changed hands, which worked out to an average price of S$0.60 per share.

The most actively traded stock was Chinese Global, which fell S$0.006 to S$0.057 with 267.9 million shares changing hands. Other actives included China Essence and China Sports.

Losers outnumbered gainers 303 to 155, or about two down for every one up.