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Hot stocks: Sembcorp, Keppel fall after news of power price cap

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Michelle Zhu

Michelle Zhu

Published Tue, Jun 20, 2023 · 03:52 PM
    • EMA's announcement comes amid rising electricity costs in Singapore, as a result of the global energy crisis brought on by the Russia-Ukraine war.
    • EMA's announcement comes amid rising electricity costs in Singapore, as a result of the global energy crisis brought on by the Russia-Ukraine war. PHOTO: BT FILE

    SHARES of index counters Sembcorp Industries and Keppel Corporation fell amid heavy trading the day after the Energy Market Authority (EMA) said that it will introduce a temporary price cap on wholesale electricity prices. 

    As at 3 pm on Tuesday (Jun 20), Sembcorp plunged as much as 11.6 per cent or S$0.66 to S$5.01 with some 16.1 million of its shares changing hands, well above the counter’s average volume of 4.5 million. It later recovered slightly to S$5.12, down 9.7 per cent or S$0.55 as at 3.14 pm. 

    Keppel dipped 5.9 per cent or S$0.41 to trade as low as S$6.55 as at 3.01 pm, as 5.3 million of its securities were transacted. The counter gradually clawed back to S$6.62, down 4.9 per cent or S$0.34 as at 3.13 pm. 

    Hot Stocksembcorp industriesKeppelEnergy Market AuthorityElectricity

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