JCY share slumps after hitting limit up last week

Publish date: Mon, 24 Jun 2013, 02:14 PM
KUALA LUMPUR: JCY International Bhd's share price slumped 23.33 per cent after hitting limit up last week.
At 11.05 am, JCY International shares were traded at 66 sen, down 21 sen from last Friday's close.
On Friday, the company's shares hit limit up, rising 24 sen or 36.36 per cent to 90 sen from 66 sen on Thursday, due to a transaction undertaken by a broker.
The same broker also caused six stocks to hit limit down and another one to hit limit up the same day.
Limit up refers to the maximum amount by which the price of a stock may advance in a single trading session, while limit down refers to the maximum price drop allowed.
The price band for stocks priced below RM1 on Bursa Malaysia is 30 sen, while for those RM1 and above is 30 per cent. -- Bernama

Labels: JCY

Discussions
Be the first to like this. Showing 4 of 4 comments

Micheal Teo

Perhaps, to the said broker slip of the finger is no fault of the mind. Alternatively, to create panic in Bursa. Just my personal opinion only.

2013-06-24 15:41

benhctan

There's no slip of brokers finger,market deliberately done in line with US Quadruple Witching Day.
Many counters have big swing on that day...eg coastal,toto,tdm,cbip,batu kawan,hs plant etc.
In fact most of the shares across the board has now covered back to the post election day.
Today Parliament starts with BN taking back control and all stocks came down to square one.
Foreign funds are firing lots of shorties in Bursa market as well and more to come.

2013-06-24 16:05

Robertchee

I agree with benchtan deduction. Done intentionally most likely.

2013-06-24 21:29

alenac

Not slip of the finger, they are realigning their stocks portfolio by ditching some and buying JCY and Star at a high price. But it's stupid way of buying and selling stocks. It could have been done gradually. In total this fund may be losing exchange rate as well as stock losses. RM has depreciated postelection RM3 to 3.20 per USD$1.

2013-06-24 21:40

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