Bursa Alert
Global Market
NewsTrade error pulls down index
2 posters
Page 1 of 1
Trade error pulls down index
by hlk Sat 12 May 2012, 10:35
PETALING JAYA: The FBM-KLCI momentarily fell 14.17 points to 1,573.89 in mid-afternoon trade yesterday after the exchange received an order to sell shares of Kuala Lumpur Kepong Bhd (KLK) at a steep discount to its market price.
Stock market data showed that 447,400 KLK shares were sold in 19 transactions at RM17, or 27.6% lower than Thursday's close of RM23.50.
In a special announcement, Bursa Malaysia said it had “received a request to cancel trade(s) arising from a participant's error for the stock KLK done at the price of RM17”.
“The exchange will make a decision on the request and will communicate the decision to cancel the trade or otherwise to all in due course,” it added.
Both the counter and the 30-stock KLCI, however, recovered minutes later. KLK closed four sen down to RM23.46 with 1.3 million shares traded. It accounts for 2.43% of the KLCI.
Meanwhile, the benchmark index ended the day in the red in line with most regional markets as investors were spooked by fears about the euro zone and a shocking US$2bil trade loss from JPMorgan.
The bank has blamed an “egregarious” failure on its synthetic credit securities as the reason for the massive losses in its chief investment office.
At the close, the FBM KLCI shed 3.74 points to 1,584.32. Turnover was 1.11 billion shares valued at RM1.21bil. Losers beat gainers 476 to 234 while 332 stocks were unchanged.
Commodities ranging from oil to gold and crude palm oil also fell on news that China's industrial output grew the least since April 2009.
Hong Kong's Hang Seng Index closed down 1.3% at 19,964.63, off 5.32% for the week.
The CSI300 Index of Shanghai- and Shenzhen-listed stocks ended down 0.76% at 2,636.92. It lost 2.91% this week, the worst weekly performance in six weeks.
Japan's Nikkei 225 shed 0.63% to 8,953.31, Taiwan's Taiex Index 1.1% to 7,401.37 and South Korea's Kospi 1.43% to 1,917.13. Singapore's Straits Times Index declined 0.7% to 2,883.4.
In commodities, US light crude oil fell 94 cents to US$96.14, Brent 90 cents to US$111.83 while US spot gold lost US$15.66 to US$1,578.35.
Crude palm oil third-month futures fell RM54 to RM3,295, and the ringgit weakened against the US dollar to 3.0709 from 3.0680 on Thursday
Stock market data showed that 447,400 KLK shares were sold in 19 transactions at RM17, or 27.6% lower than Thursday's close of RM23.50.
In a special announcement, Bursa Malaysia said it had “received a request to cancel trade(s) arising from a participant's error for the stock KLK done at the price of RM17”.
“The exchange will make a decision on the request and will communicate the decision to cancel the trade or otherwise to all in due course,” it added.
Both the counter and the 30-stock KLCI, however, recovered minutes later. KLK closed four sen down to RM23.46 with 1.3 million shares traded. It accounts for 2.43% of the KLCI.
Meanwhile, the benchmark index ended the day in the red in line with most regional markets as investors were spooked by fears about the euro zone and a shocking US$2bil trade loss from JPMorgan.
The bank has blamed an “egregarious” failure on its synthetic credit securities as the reason for the massive losses in its chief investment office.
At the close, the FBM KLCI shed 3.74 points to 1,584.32. Turnover was 1.11 billion shares valued at RM1.21bil. Losers beat gainers 476 to 234 while 332 stocks were unchanged.
Commodities ranging from oil to gold and crude palm oil also fell on news that China's industrial output grew the least since April 2009.
Hong Kong's Hang Seng Index closed down 1.3% at 19,964.63, off 5.32% for the week.
The CSI300 Index of Shanghai- and Shenzhen-listed stocks ended down 0.76% at 2,636.92. It lost 2.91% this week, the worst weekly performance in six weeks.
Japan's Nikkei 225 shed 0.63% to 8,953.31, Taiwan's Taiex Index 1.1% to 7,401.37 and South Korea's Kospi 1.43% to 1,917.13. Singapore's Straits Times Index declined 0.7% to 2,883.4.
In commodities, US light crude oil fell 94 cents to US$96.14, Brent 90 cents to US$111.83 while US spot gold lost US$15.66 to US$1,578.35.
Crude palm oil third-month futures fell RM54 to RM3,295, and the ringgit weakened against the US dollar to 3.0709 from 3.0680 on Thursday
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» DRB-Hicom shares fall on trade error
» Malaysia needs happiness index, GDP index is inadequate
» YTL Power pulls out of Project 4A
» Murdoch, savaged in parliament, pulls BSkyB bid
» European shares at 5-year highs as Summers pulls out
» Malaysia needs happiness index, GDP index is inadequate
» YTL Power pulls out of Project 4A
» Murdoch, savaged in parliament, pulls BSkyB bid
» European shares at 5-year highs as Summers pulls out
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|