By NG MIN SHEN / pic by TMR file
Bursa Malaysia Bhd share price soared 54 sen or 5% to reach RM11.30 at 9.28am today, boosted by the government’s announcement on the proposed Malaysia- Singapore shares trading links and the three-year stamp duty waiver for share trades for small- and mid-cap companies.
The stock opened four sen higher at RM10.80 before rising to RM10.94 at 9.08am and hitting RM11.00 by 9.22am.
The 10-year high of RM11.30 was short-lived however, as shares of the company pared gains at RM10.80 at 12.28pm, with 1.24 million shares traded.
The slew of initiatives announced yesterday including the opening up of intraday short selling, liberalisation of margin financing rules and a six-month waiver on trading and clearing fees for new investors, aimed at creating a vibrant capital market.
The initiatives are largely seen as the government’s efforts to boost retail participation, as retail investor participation on the local stock exchange has been falling in recent years.
The proposed stock market trading link between Bursa Malaysia and the Singapore Exchange (SGX) is also expected to be a boon to retail investors who want a greater exposure to both equity markets.