The Straits Times Index may have risen 6.67 points to 3,025.7 but Wednesday's trading was more about the rotational punting of penny stocks than the index. This was borne out by the volume statistics - 2.5 billion units worth S$696 million changed hands, which was an average of only S$0.28 per unit traded.
This compares with Tuesday's average of S$0.37, which suggests that in a week that is expected to be quiet, house traders and dealers, reassured by the recovery in blue chips, are turning their energies to the second- and third-line. Excluding warrants there were 218 rises versus 211 falls.
New names topped the actives list. Loyz Energy, which was the volume leader on Tuesday, did not feature in the top 20, and its place was taken by Stratech Group. Other names at the summit included Great Group, China Fishery and China Sky.