Cosco Corp up 8.8%; queried by SGX

SHARES in Chinese shipbuilder Cosco Corporation (Singapore) continued to soar, drawing a query from the Singapore Exchange on its unusual share price movements.

The counter closed on Tuesday trading at S$0.435, up 3.5 Singapore cents or 8.8 per cent, on 31 million shares traded. This comes after a six-cent increase on Monday.

Cosco resumed trading two weeks ago after a trading suspension of several months as parent company China Ocean Shipping (Group) Company, or Cosco Group, was involved in a restructuring of its shipping businesses.

Cosco said on Dec 11 that the restructuring will not involve its business segments for the time being.