Trade with caution on SingPost, SGX warns

Unusual trading activity still under investigation.

The SGX has advised investors to “trade with caution” on SingPost, after the company’s traded volume and share price jumped 5% yesterday.

“In view of the trading activities observed and the Issuer's response, shareholders and potential investors should exercise caution when dealing in the securities. The Exchange will investigate all possible transgressions and will work with the relevant regulatory agencies to pursue actions to maintain a fair, orderly and transparent market,” stated SGX’s announcement.

Here’s more from SGX:

Singapore Exchange Securities Trading Limited ("SGX-ST") wishes to draw the market's attention to the recent query SGX-ST issued to Singapore Post Limited ("the Issuer") regarding the substantial increase in its traded volume and its share price by 5.0% on 18 June 2014.

The Issuer has responded on 19 June 2014 that it was not aware of any reasons that could possibly explain the trading in its securities, except that it has been accelerating its transformation efforts over the past few years, and continues to pursue opportunities, both organic and via M&As, to drive growth in Singapore and the regional markets.