Penny stocks in focus as blue chips stagnate
CEFC's gravity-defying run prompts spillover rises; observers sense a China flavour in some of the smaller-stock plays
Add BT as a preferred source
PENNY-STOCK fever gripped the Singapore stock market on Tuesday as its latest leader, CEFC International, continued its gravity-defying run with a stunning 64 per cent gain that took its rise in a little over a week to almost 900 per cent, creating spillover rises for several other low-priced issues such as Oceanus, Foreland Fabrictech, Sino Construction and WE.
The largest percentage gain for the day was reserved for China shoe-sole maker Qingmei, which rocketed up S$0.026 or 325 per cent to S$0.034 on a volume of 155.2 million.
Blue chips in the meantime stagnated, possibly as attention was diverted to penny stocks. The Straits Times Index (STI) experienced an unremarkable session, drifting within a narrow band before ending 2.07 points lower at 3,371.41.
TRENDING NOW
ABSD deadline extended to up to 7 years for developers of large en bloc sites to encourage reuse of land
15-month wait-out curb lifted for private property owners buying HDB resale flats
Mortgagee-sale listings hit six-year high in H1 2026 as financing conditions tighten
Knight Frank winds down real estate agency unit, agents to move to OrangeTee & Tie
