Hot stock: Singtel shares fall nearly 2% on heavy trading as...

SHARES of telco giant Singtel saw heavy trading on Friday (Nov 1) after court proceedings against its subsidiary Optus Mobile in Australia commenced on Oct 31. The counter hit a low of S$2.90 at 9 am after the market opened, falling 0.3 per cent or S$0.01 amid heavy trading. This marked the lowest price recorded since August 2024. As at 1.24 pm, Singtel was the most actively traded counter by both value and volume. The counter recovered slightly to trade at S$3.07, down 1.9 per cent or S$0.06, with 45.7 million shares having changed hands. Two married deals were recorded in early trade, according to ShareInvestor data. The heavy trading of Singtel shares comes after the Australian Competition and Consumer Commission (ACCC) filed court proceedings against Optus Mobile over allegations of inappropriate sales conduct. The commission is pursuing penalties, consumer redress, a compliance...