Treasure Global shares rise 12.71% intraday ahead of 1-for-20 reverse stock split implementation on December 5th.

think> Okay, let's start by understanding the user's query. They want me to act as a financial analyst explaining a stock's price movement linked to recent news. The stock in question is Treasure Global (TGL.US), which had a 12.71% intraday increase. The trading period is intraday, and there are two recent news events provided. First, I need to determine if the stock moved up or down. The input says "intraday up 12.71271271%", so that's a significant increase during regular trading hours. The trading period is clearly intraday. Next, I have to evaluate the relevance of each news event. The first news is about a 1-for-20 reverse stock split, which is a corporate action that typically affects the stock price by consolidating shares. The second news seems to be in Japanese and relates to a fan club event and tour announcements for a K-pop group named TREASURE. This might be unrelated to the stock's financial performance but could affect investor sentiment if the company is involved in entertainment. For the first news event (reverse split), the article mentions that the stock closed at $0.4599 on December 2nd with a 12.15% drop. The reverse split is scheduled to take effect on December 5th. The summary notes that a reverse split can signal distress because it raises the value of low-priced shares. However, the stock price increased after this news. This might be counterintuitive because usually, a reverse split is seen as a negative sign, but perhaps investors reacted positively to the news, expecting the higher post-split price to attract more investors or improve liquidity. However, the stock had already dropped 12.15% before the split was implemented. The current intraday increase is 12.71%, so maybe after the initial drop, there's a rebound due to the split announcement. But the timing is a bit confusing. The split is set for December 5th, but the trading is happening on December 3rd (as per the news date). Wait, the news is from December 3rd, and the split takes effect December 5th. The stock closed on December 2nd at $0.4599 with a 12.15% drop. So the next day, December 3rd, the stock is trading intraday with a 12.71% increase. That suggests that the reverse split announcement might have caused a rebound. However, the news article itself states that the stock slipped 12.15% on December 2nd. The reverse split is a scheduled event, so the 12.15% drop might have been a reaction to the announcement, and the subsequent increase on December 3rd could be a reversal or a correction. But the user's input is about the intraday movement on the same day the split was announced. Wait, the news is from December 3rd, but the stock closed on December 2nd. So the split is announced on December 3rd, and the stock's intraday movement is on that same day. The user's input might be a bit confusing here. The split is set to start trading adjusted on December 5th. So the announcement of the split on December 3rd could be the trigger for the stock's movement. However, the stock closed on December 2nd at $0.4599 with a 12.15% drop. The next day, December 3rd, the stock is intraday up 12.71%. So the split announcement might have caused a positive reaction, but that seems contradictory because reverse splits are often seen as negative. However, maybe after a significant drop, investors anticipated the split and there's a rebound. Alternatively, maybe the split is seen as a positive step to stabilize the stock price by increasing the per-share price, making it more attractive to investors. But the news article also mentions that a reverse split can signal distress, which is bearish. However, the stock is going up. This could be a case where the market is reacting positively to the split despite it being a bearish signal, perhaps expecting improved liquidity or a turnaround. The second news event is in Japanese and talks about a fan club event, a tour in Japan, and media appearances. Since the company is named Treasure Global, and the news is about a tour and fan club, it's possible that the company is involved in the entertainment industry, perhaps a K-pop group or related. If the company is part of the entertainment sector, positive news like a tour could boost investor sentiment. However, the stock's movement is on December 3rd, and the news events related to the tour are in November 2025, which is after the December 3rd date. Wait, the news content for reason 2 has dates like 202.