Widetech and Y&G decline following last week’s UMA queries

Widetech and Y&G decline following last week’s UMA queries
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KUALA LUMPUR (May 24): Shares in Widetech (Malaysia) Bhd and Y&G Corp Bhd were down today following the unusual market activity (UMA) queries by Bursa Malaysia last week.

Shares in Widetech declined by as much as 11.33% or 34 sen today to an intraday low of RM2.66 per share. As of 2.33pm, shares in the company were 8.33% or 25 sen lower at RM2.75 per share, yielding a market capitalisation of RM123.07 million.

In terms of trading volume, it had seen 368,100 shares done.

As for Y&G, the counter declined by as much as 32 sen or 21.77% to an intraday low of RM1.15. As of 2.34pm, shares in Y&G were 17.69% or 26 sen lower at RM1.21, which translated into a market capitalisation of RM264.36 million.

It had seen 202,900 shares done.

It is worth noting that on a year-to-date (YTD) basis, Widetech was up by 358.33% from 60 sen at the beginning of the year. As for Y&G, it was up by 112.28%.

Both Widetech and Y&G were slapped with the UMA queries by Bursa last Thursday.

Both companies stated that they were unaware of any reasons for the respective rises in their share prices.

Read also:
Y&G slapped with UMA query after share price hits limit up again 
Y&G Corp says unaware of reason for sharp rise in share price 

Widetech slapped with UMA query over sharp rise in share price, volume
Following Bursa query, Widetech says not aware of reason behind unusual market activity  

Lam Jian Wyn