Hot stock: Parkson Retail Asia surges as much as 16.2% upon watch list exit

SHARES of Parkson Retail Asia spiked on Friday (Oct 4) morning amid heavy trading volumes, following an announcement by the mainboard-listed department store retailer that it was exiting the Singapore Exchange (SGX) watch list after more than four years.

As at 9.04 am, the counter had risen 16.2 per cent or S$0.011 to S$0.079 with 7.4 million of its securities changing hands, well above the 2.5 million average.

Parkson Retail closed S$0.007 or 10.3 per cent higher at S$0.075 on Friday, after 20.1 million shares worth S$1.5 million changed hands.