KUALA LUMPUR, June 11 (Bernama) -- Bursa Malaysia ended marginally higher after trading within a narrow range, supported by selective buying that offset profit-taking activities. The mixed performance from regional equities, driven by rising geopolitical tensions in West Asia, continued to weigh on investor sentiment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was slightly higher, rising 0.57 points to 1,679.53 compared with Wednesday’s close of 1,678.96. The benchmark index opened 1.58 points lower at 1,677.38 and traded between 1,674.65 and 1,680.53 throughout the session. Market breadth was broadly balanced, with gainers ahead of losers 562 to 561, while 538 counters were unchanged, 1,030 untraded and 21 suspended.
Tanco Holdings saw its share price collapse 60% in a single day , extending a brutal selloff that erased nearly RM10 billion in market value within days. What Happened Stock plunged 60% to 20 sen (limit-down) Marked 4th consecutive limit-down session Over 205 million shares traded in heavy selling Key point: One of the sharpest collapses in Bursa history after a massive speculative rally. From Boom to Bust Shares had surged 600% since 2024 Market cap peaked at ~RM10 billion (June 3) Now dropped to ~RM1.2 billion This is a classic parabolic rally followed by a rapid unwind. What Triggered the Selloff 1. Insider Trading Activity Raised Concerns Managing director sold shares near peak prices Bought and sold large blocks within days Mixed insider signals often shake investor confidence. 2. Speculative Momentum Faded Earlier rally driven by: Data centre story (50MW project with China Mobile) Market speculation When...