Bursa Malaysia suspends short selling of Hengyuan shares
22 May 2018 / 21:25 H.
PETALING JAYA: Hengyuan Refining Company Bhd's proprietary day trading (PDT) and intra-day short-selling (IDSS) activities has been suspended for the rest of the day, after its share price fell more than 15%.
The stock exchange regulator said the PDT and IDSS activities of the stock will only be enabled at 8.30am on Wednesday, May 23.
Hengyuan's share price declined as much as 15.56% to a low of RM7.00 in early trade after its first-quarter net profit slumped 68.9% to RM86.81 million from RM279.49 million in the previous corresponding period.
At market close, its shares dropped RM1.15 or 13.9% to RM7.14 with 5.94 million shares done.