KUALA LUMPUR (Jan 2): Subsequent to the year-end window dressing activities on Friday (Dec 29), which saw some of Bursa Securities larger cap stocks gaining substantially, these counters experienced a steep fall in early trade today.

SP Setia Bhd, which rose to its record high of RM4.00 last week, was the fifth largest loser in the open market today, falling as much as 66 sen or 16.5% to as low as RM3.34.

As at 11:18am, the counter was trading at RM3.37, down 63 sen or 15.75%, while trading volume was 814,000 shares.

Apart from SP Setia, most major real estate investment trusts (REITs), which enjoyed the same steep growth in share price and logged a new all-time high on Dec 29 last year, fell today as well.

For one, KLCC Staple Group, was the fourth largest loser at mid-morning, falling 66 sen or 7.64% to RM7.98 as at 11:18am.

Both Sunway REIT (SunREIT) and IGB REIT also declined.

SunREIT fell by 19 sen or 10% to RM1.71, while IGB REIT fell 15 sen or 8.33% to RM1.65 as at 11:18am.

Meanwhile, Capitaland Malaysia Mall Trust, which almost hit its limit up on Friday, remained stagnant and untraded as at 11:18am, but retail investors did not seem to be able to accept the high price it had reached, with buy and sell order remaininh at a range of between RM1.45 and RM1.48 this morning.

On the other hand, both Sime Darby Plantation Bhd (SDPlant) and Sime Darby Property Bhd (SDProp) also retreated today, after Friday’s gain.

SDPlant lost 49 sen or 8.17% to RMRM5.51 at 11:19am, while SDProp was trading 33 sen or 18.54% lower at RM1.45.

Other beneficiaries from funds’ portfolio adjustment last week like Star Media Group Bhd and Mitrajaya Holdings Bhd also experienced sell down today.

Star Media fell 18 sen or 10.91% to RM1.47 as at 11:20am, while Mitrajaya declined 16 sen or 16.5% to 81 sen.