Shares of Blumont, LionGold, Asiasons surge after SGX lifts trading restrictions

SINGAPORE (Reuters) - Shares of Blumont Group , Asiasons Capital and Liongold Corp surged on Monday, with Asiasons doubling within the first few minutes of trading, after Singapore Exchange (SGX) lifted trading restrictions on the stocks.

Asiasons shares jumped as much as 103 per cent, Blumont shares rose 92 per cent and Liongold 90 per cent. They were among the top ten actively traded stocks in early trade, with higher volume than their 30-day full-day average.

As at 11.30am, Asiasons was up 64 per cent to 21 cents, while Blumont had gained 54 per cent to 20.5 cents and Liongold had risen 60 per cent to 24.5 cents.

SGX said on Friday it was lifting curbs on the three stocks, restoring their full access to the equity market. The bourse operator and regulator added it would continue to monitor trading of all three.

Trading in the three companies had been suspended on Oct 4.

after their shares suffered dramatic reversals from massive increases built up earlier this year. SGX subsequently declared them "designated securities", meaning traders could not short-sell them and had to pay for any purchases with cash upfront.