Hot stock: Parkson Retail Asia surges 16.2% upon watch list exit

SHARES of Parkson Retail Asia spiked on Friday (Oct 4) morning amid heavy trading volumes, following the mainboard-listed department store retailer’s announcement that it was exiting the Singapore Exchange’s (SGX) watch list after more than four years.

As at 9.04 am, the counter had risen 16.2 per cent or S$0.011 to S$0.079 with 7.4 million of its securities changing hands.

It later eased to trade at S$0.075 as at 10.12 am, up 0.007 or 10.3 per cent, after 14.2 million of its shares changed hands, well above the 2.5 million average.