Genting shares advance, volume surges

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KUALA LUMPUR (July 24): Genting Bhd shares rose as much as 23 sen or 3.5% to RM6.88, more than any full-day gain since April 3, as Malaysia's benchmark index advanced, Bloomberg reported today.

It reported that Genting's trading volume was more than seven times the 20-day average.

"Shares are at a 14% discount to the analysts' consensus target price. The stock traded at an average 23% discount over the past year," Bloomberg said.

At Bursa Malaysia, Genting shares were traded at RM6.86 at 2:57pm with some six million units transacted.