Hot stock: Genting sees heavy trading, rises 2.3% after qualifying for Yokohama RFP

SHARES of Genting Singapore rose as much as 2.3 per cent on Wednesday morning amid heavy trading.

This comes after the operator of Resorts World Sentosa was announced as one out of two qualifying parties for the Yokohama integrated resort (IR) request for proposal (RFP) earlier this week on Monday.

As at 10.38am, the index counter had risen two Singapore cents or 2.3 per cent to 87.5 cents after some 33.2 million shares changed hands.

It later eased to trade one cent or 1.7 per cent higher at 86.5 cents around 11.26am, before surging back up to pause at the 87.5 cent-mark just before the midday trading break.

No married deals took place in early trade, according to ShareInvestor data.

The counter closed at 86.5 cents on Wednesday evening.

While local authorities did not name the accepted parties for Yokohama's IR RFP, Japanese public broadcaster NHK on Monday reported, citing unnamed sources, that one of the groups was a Genting joint venture with Japanese conglomerate Sega Sammy Holdings, with the other being headed by Melco Resorts & Entertainment.