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