A supporter of Apple Daily newspaper, buys a bundle of Apple Daily newspapers for his friends and colleagues to support media mogul Jimmy Lai Chee-ying, founder of Apple Daily after he was arrested by the national security unit, in Hong Kong, China August 11, 2020. REUTERS/Tyrone Siu
HONG KONG (Reuters) - Hong Kong's markets watchdog urged investors to "exercise extreme caution" after shares of Next Digital Ltd <0282.HK> rose more than 2,000% to a 12-year high, spurred by an online campaign for its detained owner media tycoon Jimmy Lai.
On Tuesday, the company's shares led gains on the Hong Kong bourse and it was the third most actively traded stock. At one point, it was up 668.6% on the day before retreating slightly. Since Friday's close, Next Digital has risen 2,078%.
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