Hot stock: Yangzijiang Shipbuilding nears 7-month high after contract win

SHARES of Yangzijiang Shipbuilding hit a near seven-month high in early trading on Tuesday (Jun 27), after the group said that it obtained a contract to build six 9,000 twenty-foot equivalent unit methanol dual-fuel container ships.

The shipbuilder’s counter rose as much as 8.1 per cent or S$0.11 to S$1.46 as at 4pm on Tuesday. The last time the counter closed near this level was on Nov 30, 2022.

Shares of Yangzijiang later closed up 7.4 per cent or S$0.10 at S$1.45, with 77.6 million shares changing hands. There were no married deals according to ShareInvestor data.