Friday 29 Mar 2024
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KUALA LUMPUR (Aug 6): The upper limit price of Tomei Consolidated Bhd shares have been frozen by Bursa Malaysia at RM1.53, after the counter hit limit up for two consecutive days.

In a filing today, the local bourse said the freeze is maintained in accordance with the rules of Bursa Malaysia Securities, Chapter 8 TRADING, STATIC PRICE LIMITS (8.13(5)) and Trading Manual Chapter 4, Reference Price And Price Limits (4.3) Freezing of Price.

Tomei shares closed 35 sen or 29.66% higher at RM1.53 today, after surging 30 sen or 34.09% a day earlier. The counter has more than tripled year-to-date from 44.5 sen.

Investors have been eyeing the jeweler recently as gold prices continue to surge, setting a new record on Tuesday after surging past US$2,000 per ounce.

Limit up is the maximum amount by which the price of a stock may advance in one trading day.

According to Bursa rulings, when a stock or warrant hits a limit up for two consecutive trading days, "as the case may be on the next market day, the exchange may maintain the trading price at the last done price of the previous market day for such period as specified by the exchange".

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