Cymao Holdings Bhd, which is involved in the manufacturing and sale of plywood products, has been slapped with an unusual market activity (UMA) query on the sharp rise in its share price and volume recently.

Shares of Cymao shot up 26.26% or 13 sen today and settled at 62.5 sen, with 4.78 million shares traded.

The 4.78 million shares that were traded today is five times that of yesterday’s volume of 914,800.

Over the past month alone, the stock's price shot up by 172% from 23 sen on Nov 12. The group currently has a market capitalisation of RM46.9 million.

In a filing today, Bursa asked the company to respond as to whether there is any corporate development relating to its business and affairs that has not been previously announced that may account for the trading activity including those in the stage of negotiation.

Millions of Chinese investors rushed into July's stock market rally

 China reported the largest number of new stock investors in five years in July, as millions of individuals rushed into a buoyant share market, boosting trading turnover and brokerage earnings.

It represents a 60 per cent jump from a month earlier and a year-on-year increase of 124 per cent, according to the China Securities Depository and Clearing Corp (CSDC).

Investors sought high returns in a stock market that jumped over 10 per cent in July, helping boost turnover. Stamp duty income from securities trading rose 35.3 per cent year-on-year during the first seven months, compared with a 8.7 per cent fall in fiscal revenues as coronavirus hit the economy, official data shows.

FBM KLCI was up 3.59 points or 0.27% to 1,328.09

 Local fund buying continued to underpin the FBM KLCI’s firmer close on Thursday, though off the intra-day high amid a firmer broader market.

Turnover was robust with 3.53 billion shares valued at RM2.27bil. The broader market was firmer as advancers beat decliners 540 to 295 while 334 counters unchanged.

The rally on Bursa this week has been due to sustained local fund buying amid some profit taking by retail investors while foreign institutions had continued to sell down Malaysian equities due to the Covid-19. Among the biggest buyers of hammered down stocks including banks such as Public Bank was the Employees Provident Fund.

FBM KLCI slid 35.21 points to 1,268.07 Today

Bursa Malaysia could not sustain the rally from the previous session and tracked global equities lower amid worsening sentiment over the impact of the Covid-19 pandemic.

Trading volume was 1.63 billion shares valued at RM1.09bil. Market breadth was negative with 732 decliners, 117 gainers and 183 counters unchanged. Bursa Malaysia Securities suspended the short selling activities for CMSB, Serba Dinamik, MI and Frontken on Monday morning and for the rest of the day. It said the last done price of the shares dropped more than 15% from the reference price. The short selling will only be activated on Tuesday at 08:30am.

CMSB was down 18 sen to 94 sen, Serba Dinamik 14 sen to RM1.16, MI 24 sen to RM1.43 and Frontken 12 sen to RM1.33. The FBM KLCI slid 35.21 points to 1,268.07. Trading volume was 1.63 billion shares valued at RM1.09bil. Market breadth was negative with 732 decliners, 117 gainers and 183 counters unchanged.

FBM KLCI fell 1.87% to 1,215.8 Today - 19/03/2020

The Bursa Malaysia Finance Index fell 2.56% or 291.05 points to an 11-year low of 11,058.43.

The benchmark index has shed some 23.5% from 1,588.76 on Dec 31, 2019.The decline in banking stocks was led by Affin Bank Bhd, which fell as much as 10.42% to RM1.29, followed by RHB Bank Bhd, which declined as much as 7.03% to RM4.23, Alliance Bank Bhd, down as much as 4.97% to RM1.53, and Hong Leong Financial Group Bhd, which shrank as much as 4.92% to RM11.60.

 CIMB Group Holdings Bhd dipped as much as 3.28% to RM3.24, AMMB Holdings Bhd was down as much as 2.62% to RM2.97, and Public Bank Bhd fell as much as 2.3% to RM12.72. Hong Leong Bank Bhd was down as much as 1.77% to RM12.20, Malayan Banking Bhd fell as much as 1.52% to RM7.15, while BIMB Holdings Bhd shed as much as 0.68% to RM2.90. 

Dayang Wiped Out After Gaining 200% in 6 Months

In 22 days, markets wiped out some good fundamental stocks that gained 60% to 200% in the past 6 months to one year period. Fundamental is important in picking a stock, but it is not the ultimate solution as what the most people perceive. Cut loss still play an important role in buying a stock.

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