SGX stock pulls back as MAS issues 'trade with caution'
MAS move, prompted by SGX's reply that it is not aware of any reason for price surge, surprises some market watchers
Add BT as a preferred source
Singapore
IN the first such move, the Monetary Authority of Singapore (MAS) on Thursday slapped a "trade with caution" on the stock of Singapore Exchange, in response to unexplained surge in the share price on Wednesday. Some market watchers whom The Business Times spoke with expressed surprise over the MAS move but expected minimal impact on the stock's performance.
SGX's counter had surged as much as 5.62 per cent on Wednesday, before closing the session at S$8.18, up 4.47 per cent, with a total of 7.48 million shares switching hands. It was the counter's largest intraday percentage gain since July 2009.
Copyright SPH Media. All rights reserved.
