Small cap shares top trading in steady Singapore market
Small and mid-cap companies such as Albedo Ltd and YHM Group Ltd dominated the list of most actively traded stocks in Singapore on Tuesday, with the broader index little changed.
YHM Group, controlled by Singapore-based offshore oilfield service firm Ezion Holdings Ltd, rose 12 percent to S$0.064, up for the fourth day in a row. On Monday, the company said it had won a contract worth about $183 million to provide a semi-submersible rig.
The main Straits Times Index eased 0.1 percent to 3,210.1 in thin volume, with 70.4 million shares traded, about a quarter of its 30-day average full-day volume. The index is trading just below a seven-week high hit last week.
Asian stocks markets were mostly under water and currencies dithered in recent ranges.
Shares in Sembcorp Marine Ltd dipped 1.1 percent. Brokerage CIMB issued an upbeat report on the company after a tour of its integrated yard in Singapore.
"Given the keen competition from China and Korea, we think that Sembcorp Marine will sharpen its rig-building capabilities by consolidating its repair, conversion and offshore work at this new yard and better utilise its existing yards for rig-building," CIMB said in the report.
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