Singapore shares return to winning ways

The Singapore market returned to positive territory on Thursday, with the blue-chip Straits Times Index adding 12.89 points or 0.42 per cent to 3,121.08.

The market had dropped on Wednesday, snapping a four-session winning streak as traders cashed out on their profits.

But they were in a buying mood again on Thursday. Gainers included the banks, with DBS Group Holdings up four cents or 0.2 per cent to $16.35, OCBC Bank ahead by 11 cents or 1.1 per cent to $10.12 and United Overseas Bank gaining 15 cents or 0.7 per cent to $20.60.

Across the market, gainers outnumbered losers 287 to 163.

Action was focused on penny stocks, with a whooping 9.36 billion shares changing hands. But these trades were worth only $1.67 billion, showing the action was on low-cost punts.

The most active stock by units traded was Sunmoon Food Company, which slipped 0.1 cent, or 33.3 per cent, to 0.2 cent. Some 3.57 billion Sunmoon shares changed hands but these were worth only $7.15 million due to the low cost of each unit.