Thursday 28 Mar 2024
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KUALA LUMPUR (May 4): Bursa Malaysia has issued an unusual market activity (UMA) query on the sharp fall in builder Spring Gallery Bhd's share price and the stock's high trading volume.

At 3:55pm, Spring Gallery shares fell 0.5 sen or 0.8% to 65 sen, giving the company a market capitalisation of RM68.97 million.

The sixth most-active stock on Bursa Malaysia saw some 38 million shares transacted.

Last month, Spring Gallery's share price and volume had risen substantially before profit taking led the stock's price to current levels.

On April 18, Spring Gallery shares closed at 69.5 sen with 698,100 units traded. The stock climbed to RM1.23 on April 26 with 31.76 million shares transacted.

Today, Bursa Malaysia told Spring Gallery: "We draw your attention to the sharp fall in price and high volume of your company's shares recently."

Spring Gallery had not responded to Bursa Malaysia's UMA query at the time of writing.

 

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