Shares of Next Digital Ltd tumbled over 40per cent on Wednesday after soaring more than 1,000per cent in the last two sessions, as the securities watchdog said it was monitoring trading activity in the Hong Kong media group.
Brokers said the surge in Next Digital shares was also driven by speculation Lai may sell the business. On Wednesday, around 30per cent of Next Digital's trading came from investors transacting only one or two lots of 10,000 shares - suggesting the rally has mostly been driven by retail investors.
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