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Exercise caution in penny stock trades - Bursa CEO
by Cals Tue 26 Aug 2014, 09:31
| Exercise caution in penny stock trades - Bursa CEO |
| Business & Markets 2014 |
| Written by Yen Ne Foo of theedgemalaysia.com |
| Monday, 25 August 2014 10:42 KUALA LUMPUR (Aug 25): Stock traders tempted to invest further in penny stocks following the trading frenzy last week should exercise caution, according to Bursa Malaysia Bhd chief executive officer Datuk Tajuddin Atan. Tajuddin said the high trading volume of penny stocks was restricted to "limited counters". He warned that traders should not get carried away once prices rose to the extent that they were unsupported by fundamentals. Speaking to reporters at the Bursa Malaysia Fantasy Football Trader prize giving ceremony today, Tajuddin said exchange regulator and operator Bursa Malaysia hoped to educate retail investors more about capital market investing through its new BursaMKTPLC website. Last week, the Malaysian stock market made news when substantial trades in penny stocks like Sumatec Resources Bhd and PDZ Holdings Bhd drove the bourse's trading volume to a record 7.67 billion shares last Wednesday (August 20). The all-time high trading volume of 7.67 billion shares represented an increase of 50.2% from 5.1 billion shares recorded a day earlier. |
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