Zhongmin Baihui shares dive after SGX raises red flag

Singapore

SHARES of Chinese department store operator Zhongmin Baihui Retail Group were pummelled in relatively thin trade on Wednesday after Singapore Exchange (SGX) said it was reviewing trading in the counter.

The stock ended Wednesday trading at S$1.30, down 25.7 per cent or 45 Singapore cents with just 84,700 shares changing hands, after spooked investors scrambled for the exit following SGX's warning for them to exercise caution.