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SGX to MAS: Unaware of any reasons for unusual trading activity
THE Singapore Exchange said on Wednesday that it was unaware of any possible reasons that could explain the unusual trading activity in its share price.
The local bourse was replying to queries from the Monetary Authority of Singapore (MAS) with regard to its unusual share price and volume on Tuesday, which saw SGX shares climb five cents to S$7.83 a share, with 3.7 million shares changing hands. After the market closed, SGX issued a corrigendum, correcting the day in question to Wednesday, not Tuesday.
"The company and the board are not aware of any other possible explanation for the unusual trading activity," SGX said.
"To the best of the knowledge of the board, the company is in compliance with the SGX-ST listing rules," it added.
However, it was Wednesday's rally caught the attention of retail investors and brokers, with the counter rising a staggering 5.6 per cent to S$8.27 a share, before ending at S$8.18, up 4.47 per cent, or 35 cents. More than seven million shares were traded.