Penny stocks still most sought after in Singapore market, while blue chips generally thinly traded, according to Dow Jones.
FTSE ST Catalist Index +2.2% vs STI +0.1% at 3,014.86. Benchmark not expected to challenge year-to-date high of 3,043.
“At the moment, many investors can be likened to ‘headless chickens’ running about in a directionless environment and jumping into trades upon the slightest hearsay,” says CIMB analyst Jonathan Ng; “with interest shifting away from blue chips, we see a strong revival of interest in S-chips and penny stocks.”
