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

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.