KUALA LUMPUR: CN Asia Corp Bhd, which received an unusual market activity (UMA) yesterday, hit limit up in early trade Tuesday.
The counter surged 29.55%, or 39 sen to RM1.71, with over 1.5 million shares traded. It is currently the top gainer on Bursa Malaysia.
So far this year, it has appreciated over 300%. Since the beginning of December, the counter has risen some 190%. At the current price, the company has a market capitalisation of RM93.8mil.
In replying to the UMA Query, CN Asia said it is unaware of any reason that could account for the recent sharp rises in its share price and trading volume.
It said it is not aware of any corporate development relating to its business and affairs that has not been previously announced, or any rumour or report, that may account for the trading activity.