Hot stock: ComfortDelgro pares early morning losses

AFTER sliding for two straight trading sessions on news that bus and train fares will be reduced, shares in ComfortDelgro pared some of its losses on Monday morning.

The stock fell to as low as S$2.45 in early trading on Monday morning before recovering to S$2.52 at 10.40am, though this was still some 2.7 per cent lower than the previous close.

Some 12.7 million shares changed hands, making it one of the top-traded stocks on the Singapore Exchange.

The Public Transport Council (PTC) on Thursday said that it has decided to reduce bus and rail fares by 4.2 per cent from Dec 30.