Singapore's Straits Times Index dips 0.2%; penny stocks suffer big sell-off
SINGAPORE stocks dipped on Friday, even as caution continued to reign in the region in the face of United States government shutdown and debt ceiling uncertainty.
The benchmark Straits Times Index (STI) slid 6.71 points, or 0.21 per cent, to 3,138.08.A total of 4.6 billion shares worth just $1.2 billion changed hands.
But the spotlight was firmly cast on small cap stocks and penny plays following dramatic proceedings which saw the Singapore Exchange suspend trading in three such counters in the morning.
The three - Blumont Group, Asiasons Capital and Liongold - were suspended but not before their share price each sank sharply.