Hong Kong Ferry's share price ended unchanged at $14.30, despite the announcement that the firm had received partial government approval to redevelop one of its property holdings. The stock had surged 19 per cent on Monday, prompting brokers to speculate on the cause of what was seen by some as an unusual share movement. 'What do you think - somebody was investing with great confidence?' a trader asked. Volume surged to the seven million-share level on Monday, compared with an average of less than one million shares this year. A trader said: 'It confirms some people's ideas that this is a dodgy market.' The reason for Hong Kong Ferry's jump on Monday was unlikely to be revealed, brokers said. 'These things are rarely investigated with the same zealousness as in other markets; the inquiry mechanism is not as developed,' a trader said. Having added almost 80 per cent since July 1, Hong Kong Ferry could not go much higher, analysts said. Patrick Chia, at China Everbright Securities, said: 'There is not much upside potential. All the good news is reflected.' Shun Tak Holdings, which also runs a ferry service and holds property assets, ended up 12 per cent yesterday on volume of 16 million shares, compared with a daily average of about 3.5 million shares.