Straits Times Index finishes the week down 1.15%
THE Straits Times Index (STI) rose 14.36 points or 0.55 per cent to finish at 2,604.51 on Friday, but ended the week 1.15 per cent lower than a week ago as the benchmark index see-sawed through a series of election news and continued fears of a second wave of the Covid-19 pandemic.
On Friday, some 5.45 billion shares changed hands - an unusually high volume - although it appears that most of the activity was centred on penny stocks as the securities traded were only worth S$986.64 million in all.
Indeed, the top three most active counters of the day were all penny stocks. Abalone producer Oceanus closed flat at S$0.004, with 3.5 billion shares changing hands as a new shareholder group led by Alacrity Investment Group acquired a significant stake through a married deal with the group's former major creditor, Ocean Wonder International.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Japfa posts US$12.4 million profit, reversing from year-ago loss of US$43 million
PayPal lifts 2024 profit forecast as spending stays resilient, margins improve
Walmart to shut all health centers in US over lack of profitability
Japan may have spent 5.5 trillion yen on Apr 29 intervention, BOJ data suggests
3M to cut dividend on health-care spin, losing aristocrat status
OCBC should be seen as ‘financial conglomerate’ unlike local banking peers, says chairman