The STI gained 18 points to end a holiday-shortened week at 2,925.48; Absence of major news meant players turned to penny stocks; Average value per unit traded was around S$0.50; DBS reported 33% 4Q drop in profit, 26% down for full year; Companies in the news: Yangzijiang and iFast; Wall St remained well-supported by stimulus hopes despite sobering economic data; US Fed chief Jerome Powell reiterated that rates will remain close to zero Small-caps and second-liners take center stage Penny stocks continued to occupy most of the local market’s energies in a holiday-shortened week in which the Straits Times Index climbed 18 points or 0.6% to 2,925.48. The daily top volume list was peppered with low-priced stocks such as Jiutian Chemical, AsiaMedic, Oceanus and on Friday, it was led by

The STI gained 5 points or 0.17% at 2,907.11 over the week; Wall Street’s new highs due to weak economic data which raised stimulus hopes; Penny stocks in play, possibly as traders look for next GameStop; US regulators meet to decide whether action is needed; MAS-SGX warn investors against trading on Internet recommendations; Yoma’s shares plunged after Myanmar coup; SIA reported Q3 net loss of S$142m; iFast rose to record highs, company reported 127.5% Q4 profit jump Flat week for STI as penny stocks swing into focus The loss of upward momentum that the market experienced in the second half of January continued into the first week of February, with the Straits Times Index trading within a narrow range and only managing a 5-points or 0.17% gain over the week at 2,907.11. This was d