Infrastructure play Hopewell put in a towering performance yesterday, gaining 17.8 per cent to $1.98, while the rest of the market succumbed to profit-taking. The advance means the stock has now more than doubled in the past 11 sessions, reaching its highest level since January 2. Brokers were at a loss to explain the renewed interest in the firm, especially as it has recently had confirmation its Bangkok road and rail project has been terminated. They said possible reasons for the surge might have been rumours of a share placement, and revival of speculation that a third party was about to acquire a large stake in the company. ABN-Amro Hoare Govett Asia analyst Eddie Lau Kwok-lap said: 'There has been speculation about a share placement - but the company is not in need of any cash.' Hopewell said yesterday it had no idea why the company's stock had risen so much in the past two weeks.