Daily Briefing: NOL shares jump to highest since May; Jumbo IPO surges in debut

And SGX investigates potential derivatives spoofing.

Neptune Orient Lines Ltd. jumped to the highest level in more than five months in Singapore trading after the company became a takeover target for two of the world’s largest container ship operators. Shares of Neptune Orient, which gained as much as 8.1 percent earlier, closed up 1 percent at S$1.055, the highest price since May 22. The stock has advanced 26 percent this year, compared with an 11 percent decline in Singapore’s Straits Times Index. Read more here.

Jumbo Group Ltd., a Singapore-based operator of chili-crab restaurants, surged in its trading debut after selling shares in the city’s biggest initial public offering this year to investors including a Temasek Holdings Pte unit and Osim International Ltd. Chairman Ron Sim. Find out more here.

Singapore’s stock exchange is evaluating possible incidents of spoofing in its flourishing derivatives market, following complaints over the dishonest trading practice. Singapore Exchange Ltd. has received complaints that some market participants maybe making orders and then canceling them before they can be executed. Read more here.