SingPost shares dive inexplicably to 20-month low; prompts SGX query

Singapore

SHARES of postal and e-commerce group Singapore Post took an unexplained and dramatic dive on Wednesday to their lowest point in 20 months, drawing a query about its unusual trading activity from the Singapore Exchange (SGX). SingPost did not respond by press time.

The stock opened only slightly lower at S$1.59 but took a steep tumble in the late morning to S$1.54, or about 4.3 per cent down. It bled even more in mid-afternoon and finished the day 6.2 per cent or 10 Singapore cents lower at S$1.51.