FBM KLCI up 0.3%, MyEG and George Kent suspended


Bursa Malaysia ended its morning session 0.3% higher as investors are returning to market after the country’s 14th General Election (GE14).

At 12.30 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was up 5.38 points at 1,855.80 from Monday’s close of 1,850.42.

The index opened 6.80 points higher at 1,857.22.

Volume stood at 2.25 billion units valued at RM1.92 billion.

On the broader market, losers led gainers 520 to 452, while 278 counters were unchanged, and 619 untraded.

For the first half of the day, the local benchmark index were trading between 1850.24 to 1859.83 and 18 of 30 shares rose, while 10 fell.

The FBM KLCI is up 3.3% so far this year.

Among heavyweights, AMMB Holdings Bhd gained eight sen to RM3.53, Sime Darby Bhd added 10 sen to RM2.80 and Maxis Bhd gained 28 sen to RM5.68.

Public Bank Bhd declined 36 sen to RM24.44, Malayan Banking Bhd erased two sen to RM10.78 and Tenaga Nasional Bhd reduced 10 sen to RM15.90.

Bursa Malaysia said at noon that proprietary day trader (PDT) and intraday short selling (IDSS) activities have been suspended for the rest of the day for Excel Force MSC Bhd, My E.G. Services Bhd, George Kent (M) Bhd and Gabungan AQRS Bhd securities.

It said the suspension took effect at 8.30am as the last done price of the approved securities dropped more than 15 sen / 15 % from the reference price.

“The PDT and IDSS activities will only be enabled the following trading day, that is Wednesday, at 08.30am,” it said.

George Kent last traded at RM1.94, 29.74% or 82 sen lower from yesterday’s close meanwhile MyEG is down 29.83% aor 54 sen to RM1.27.

Gabungan AQRS and Excel Force were both down 21.43% and 23.19% to 88 sen and 53 sen. Respectively.

The four stocks continued their downward spiral for the second day after hitting the limit down as the markets opened this morning.

Limit down refers to a mechanism that automatically stops trading of a company’s stocks to prevent its value from declining further after its share price has slid by 30%