SinoCoking Coal Jumps 200% on New China Contract

Shares of SinoCoking Coal and Coke Chemical Industries were up as much as 200 percent in heavy volume following the coal processor's agreement to implement a technology to convert coal into syngas at four underground mines in China.

Volume hit more than 19 million shares by late morning, making it the most active day in the stock's history, while the stock's 200 percent rise would be the biggest one-day percentage jump for the company ever.

The stock, which is up 663 percent for the year so far, was the leading percentage gainer on the Nasdaq on Tuesday and was among the day's most active names in the index.

SinoCoking shares were most recently trading up $5.42 at $8.34 after earlier touching a three-year high of $9.15.

(By Caroline Valetkevitch, Editing by Nick Zieminski)