KUALA LUMPUR (Jan 19): Shortly after the opening bell on Friday, five counters hit limit-down again, extending heavy losses seen this week, namely Rapid Synergy Bhd, YNH Property Bhd, Jentayu Sustainables Bhd, Sarawak Consolidated Industries Bhd (SCIB), and Silver Ridge Holdings Bhd.
Shares of SCIB, YNH and Rapid Synergy did not move on Thursday due to freezing of the downward move in share price by Bursa Securities, but selling resumed as the freeze was lifted on Friday.
Rapid Synergy saw its share price plummet by 29.8% or RM1.18 to settle at RM2.78 on Friday from Wednesday's close of RM3.96, with just 176,000 shares traded. Meanwhile YNH Property, which opened the day at its limit down price of 85.5 sen — down 29.9% from its previous close of RM1.22 — stayed there throughout the day.
Jentayu, which hit limit-down over the past two days, struck the third time as it opened at 50 sen — down 30 sen from its previous close of 80 sen — and remained there till trading hours ended.
SCIB has not been spared from the persistent selling wave as it saw its share price open at 23.5 sen, down 30 sen from its previous close of 53.5 sen. It later pared some losses to close at 29 sen, still down 24.5 sen or 45.8%.
It was the second most-actively-traded stock on Friday's close, with 786 million shares exchanged, more than 20 times its one-year average volume of 41.42 million shares.
Meanwhile, Silver Ridge saw its share price plummet by 35.5% or 30 sen to 54.5 sen during the morning trade, hitting limit-down for the second day in a row, and stayed there till market close.
Tanco Holdings Bhd, which saw its share price tumble as much as 26.7% on Thursday and prompted Bursa Securities to suspend its intraday short selling, saw its share price open 26 sen lower at 25 sen. It then pared losses to close at 36.5 sen, still down 14.5 sen or 28.4%.
Widad Group Bhd — another counter that hit limit-down on Thursday — saw its share price tumble a further 42.1% or 8 sen to end Friday's trading session at 11 sen, from its previous close of 19 sen.
Widad was the most active stock of the day, with 787 million shares traded, more than 16 times its one-year average volume of 48.53 million shares.
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