Blue chips shield market amid penny storm

THE value of Singapore-listed shares stayed mostly flat in October, but a closer look reveals a tale of two markets with battered penny stocks on the one hand and resilient large caps on the other.

"I guess generally the blue chips saved the day," DMG & Partners head of research Terence Wong said.

The total market capitalisation of Singapore-listed companies dipped 0.4 per cent month on month to $913.2 billion in October, data compiled by The Business Times showed. Compared with a year earlier, however, total market cap was up 7 per cent.