Friday 21 Jun 2024
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KUALA LUMPUR (Nov 14): Bursa Malaysia has suspended the intraday short selling (IDSS) on JF Technology Bhd (JF Tech) for the rest of Tuesday, after the stock dropped more than 15% or five sen from its reference price.

The local stock exchange said on Tuesday that IDSS will only be re-activated for JF Tech, a manufacturer of high-performance test contacting solutions for global integrated circuit (IC) makers, at 8.30am on Wednesday (Nov 15).

JF Tech dropped as much as 16% or 18.5 sen to an intraday low of 96.5 sen on Tuesday, before paring some losses to trade at RM1.03 at 4:17pm — still down 12 sen or 10.4%, valuing it at RM954.87 million.

The counter has gone through a rollercoaster ride since September, when it climbed a sharp 26% that month, before dropping 7.3% in October.

Prior to its steep decline on Tuesday, the stock recorded a gain of 14% from the start of this month till last Friday (Nov 10).

Earlier on Tuesday, JF Tech announced that it had formed a joint venture (JV) with Shenzhen HFC Co Ltd to engage in activities that include the design and manufacture of electromagnetic interference (EMI) shielding materials, thermal interface and absorbing materials.

Edited ByTan Choe Choe
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