Hot stock: Aspen soars 55% to three-month high, triggers SGX query

SHARES of Malaysian property developer Aspen (Group) soared 55 per cent on Thursday (Dec 29) morning to reach a three-month high of S$0.053, before easing slightly to S$0.049 at 9.56 am.

Data from the Singapore Exchange portal showed more than 19 million shares changing hands in the morning.

This prompted Singapore Exchange Regulation to issue a query asking if the company was aware of any information not previously announced which may explain the surge, or any other explanations for the “unusual volume movements” in its shares.