Singapore shares close 1% down on Tuesday

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.