KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia ended at its intraday low on Thursday as investor sentiment remained cautious amid ongoing foreign outflows, although the recent weakness may present bargain-hunting opportunities in fundamentally sound blue-chip counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.33 points, or 0.54 per cent, to 1,708.36, from yesterday’s close of 1,717.69. The benchmark index, which opened 3.74 points higher at 1,721.43, hit an intraday high of 1,722.50 in early trade before losing momentum for the rest of the day. Market breadth was negative, with losers outpacing gainers 656 to 508, while 565 counters were unchanged, 989 untraded and 32 suspended. Turnover fell to 3.49 billion units worth RM3.70 billion compared with 4.15 billion units worth RM4.29 billion on Wednesday.
Quick Summary Greentronics’ share price collapsed, wiping out up to 79% of its market value Bursa Malaysia issued an Unusual Market Activity (UMA) query Company must confirm if any undisclosed developments caused the plunge Shares rebounded partially, but volatility remains extremely high What Happened Greentronics Technology Bhd was ordered by Bursa Malaysia to explain an extraordinary sell-off that saw its shares crash as low as 5 sen , from 19 sen , erasing 79% of its market capitalisation at the intraday low. The exchange has asked Greentronics to: Confirm whether there were any unannounced corporate developments Clarify the existence of ongoing negotiations, rumours or reports Reaffirm compliance with disclosure and listing requirements Market Impact Intraday low: 5 sen Noon close: 18.5 sen Shares traded: 8.87 million Market cap: ~RM45 million at the low RM166.2 million at 18.5 sen Key point...