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STI takes a breather after 4 days of rises

Penny stocks continue to be in full play; property counters mixed despite strong sales data in March

Published Thu, Apr 16, 2015 · 09:50 PM

HAVING already risen about 80 points in the previous four trading sessions, the Straits Times Index on Thursday fell back by 8.34 points to 3,531.61. Rotational punting of penny stocks continued in full force, with new names such as Ntegrator, Federal International and Otto Marine entering the actives list.

Turnover amounted to 2.6 billion units worth S$1.5 billion and excluding warrants, there were 266 rises versus 203 falls throughout the market.

Brokers said the sudden jump in penny stocks has come largely through proprietary traders looking to capitalise on improved sent…