Dukang Distillers slapped with 'trade with caution' after price surge

Singapore

BELEAGUERED Chinese spirits producer Dukang Distillers Holdings is experiencing a hangover after a tipsy rise in its share price. On Thursday, the stock was slapped with a "trade with caution" notice by the Singapore Exchange (SGX), following a spectacular surge in its share price the day before.

The sharp 20.9 per cent rise in the counter's share price - despite the fact that no material announcements were made - prompted a query from the SGX on Wednesday with regard to unusual trading activity. In response, Dukang Distillers said it was "not aware of any other possible explanation for the trading".