For those who followed the local stock market, you would not have missed the big news that has requested for a trading halt after the Singapore Exchange (SGX) flagged “unusual price movements” in the company’s shares on Thursday 8/8/2019. It had fallen 20% or $0.26 to S$1.04 on heavy volume of 83.7 million shares traded before its trading was halt. It also dragged down the STI Index as YZJ is one of its component stock.
There are many speculation of why its share price was hammered so badly, so much so that the company has to call for a halt. Rumor has been circulating that the chief of YZJ, Mr Ren Yuanlin, has been “missing” for over two months and he is under investigation by Chinese authority for association of a corruption case involving Liu Jianguo, the former party secretary of City of Jiangyin and Jingjiang, where YZJ is