Cosco Shipping gains 7.3%; shares highest in over two years

Singapore

SHARES in Cosco Shipping International (Singapore) Co rose by as much as 11.9 per cent on Tuesday morning to a 2.5-year high, continuing a week-long surge.

The counter eventually closed at 58.5 Singapore cents, up four cents or 7.3 per cent, from its previous close on Monday. It was the third-most heavily traded counter with some 104.6 million shares changing hands on Tuesday. The stock's price has almost doubled since the start of November.