China Sky shares dive as trading resumes

Singapore

THE stock of China Sky Chemical Fibre plummeted as much as 45 per cent on Thursday when it resumed trading after a near four-year suspension.

It opened at 9.8 Singapore cents, close to its pre-suspension last traded price of 10.2 cents, and hit an intra-day low 5.6 cents before closing 4.2 cents or 41.2 per cent down at six cents. Some 23.4 million shares changed hands, making China Sky among the most actively traded for the day.