Genting Bhd shares fall to lowest in eight weeks

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KUALA LUMPUR (Sept 3): Genting Bhd shares fell 2 percent, more than any full-day drop since June 12, as Malaysia's benchmark index declined.

Market Metrics

* Shares declined to RM8.45, lower than any close since July 9, from RM8.62 in the previous session.

* Trading volume was 2 percent more than the 20-day average.

* The FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index lost 0.2 percent, and the MSCI AC Asia Pacific Index fell 0.7 percent.

Market Insights

* In the past year, the stock had a similar or greater loss 15 times at the close; it advanced in the next trading session nine times (1 percent, on average) and declined five times (0.7 percent, on average).

* Shares are at a 25 percent discount to the analysts' consensus target price. The stock traded at an average 21 percent discount over the past year.

* Stock declined 13 percent in the past 52 weeks as the FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index gained 2.4 percent.

Catalysts

* A cash distribution of 9 sen was announced with Sept. 14 as the estimated ex-date.