JAKS securities short selling suspended

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KUALA LUMPUR (March 12): Proprietary day trading (PDT) and intraday short selling (IDSS) for JAKS Resources Bhd securities have been suspended for the rest of the day as the last done price of the approved securities dropped more than 15% from the reference price. 

"The short selling under PDT and IDSS will only be activated the following trading day, Friday, March 13, 2020 at 08:30am,” Bursa Malaysia said in a special announcement today.

Bursa top-active stock JAKS fell as much as 16 sen or 15.24% to 89 sen in morning trades as investors took profit in the builder and property developer’s shares amid a drop in the broader market. 

At 10:42am, JAKS cut losses at 92 sen for a market capitalisation of  RM599.03 million with some 57 million shares traded. In the broader market, the FBM KLCI was down 15.01 points or 1.04% at 1,428.82.