Hot stocks: Yangzijiang counters pulled in opposing directions amid heavy volumes

SHARES of Yangzijiang Shipbuilding and its listed subsidiary Yangzjiang Financial were trading divergently as shares of both counters were heavily transacted by volume on Friday (Sep 27) morning.

As at 10.55 am, index counter Yangzijiang Shipbuilding fell S$0.17 or 6.3 per cent to S$2.51 after 26.8 million securities changed hands.

The group’s last public announcement made on the Singapore Exchange (SGX) took place on Sep 12, regarding its planned acquisition of a 34 per cent stake in a Chinese subsidiary of Japanese shipbuilder, Tsuneishi Group, for 833.1 million yuan (S$152.6 million).