Top Financial leads rally in China-based small cap stocks

AMTD IDEA

28/04/2023 12:58

** U.S.-listed shares of some small and micro-cap China
firms jump in premarket trading with some of the stocks drew
retail traders' interest
    ** online brokerage Top Financial  TOP.O  jump 465% to
$113.10 premarket, a day after the stock nearly tripled in value
    ** TOP was the most actively discussed stock on
investors-focused stocktwits.com, indicating interest from
retail investors
    ** AGBA Group  AGBA.O  which offers wealth management
services, rallies 74%; last week co announced a share buyback
plan
    ** Magic Empire Global  MEGL.O , which provides financial
advisory and underwriting services, soars 330% to $4
    ** Educational services provider Golden Sun Education
 GSUN.O  adds 49.1%, lock maker Intelligent Living Application
 ILAG.O  gains 28.2%, paper packaging firm Millennium Group
 MGIH.O  advances 19.3%
    ** Trading platform Lion Group  LGHL.O  nearly doubles to 43
cents, online retailer Secoo  SECO.O  up 14% at 80 cents and
insurance broker Tian Ruixiang Holdings  TIRX.O  13% at 1.30
    ** Fintech co AMTD Digital  HKD.N  advances 15% and its
parent AMTD Idea Group  AMTD.N  adds 8%
    ** Top KingWin Ltd  TCJH.O , that provides consulting and
advisory services, gains 27.2% days after its Nasdaq debut    
    ** It is reminiscent of rallies in small- and micro-cap
Chinese firms whose shares popped last year after their IPOs
    ** Nasdaq Inc in November put the brakes on IPOs
preparations of at least four small Chinese companies while it
was investigating short-lived stock rallies of such firms
following their debuts, according to lawyers and bankers who
work on such stock launches

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))