Stock Track | Kiu Hung Int'l Shares Surge After Denying Rumors, Vowing Action Against Short Sellers

Stock Track10-24

Shares of Kiu Hung International Holdings Ltd soared 12.25% on Wednesday morning, after the company denied speculations contained in media reports and vowed to investigate suspected malicious short selling activities.

In a stock exchange filing, the Hong Kong-listed company stated that it had recently experienced unusual fluctuations in its share price and trading volume. Kiu Hung categorically denied the speculations and rumors circulating in some media reports, though it did not specify the nature of these reports.

The company further announced that it would report the matter to the police and investigate the potential criminal liability of parties involved in suspected malicious short selling activities targeting its shares. This stance appears to have reassured investors, leading to a sharp rally in Kiu Hung's stock price on Wednesday.

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