KUALA LUMPUR (Aug 4): Bursa Malaysia has frozen the upper limit prices of HLT Global Bhd, Notion VTec Bhd and ES Ceramics Technology Bhd stocks and warrants after the securities hit limit up for two consecutive days.
The upper limit prices of Notion shares and Notion-WC will be maintained at RM1.44 and RM1.12 apiece, respectively, while those of HLT, HLT-WA and ES Ceramics will be kept at RM2.45, RM1.72 and RM1.40 per unit, Bursa said in an exchange filing today.
"The upper limit prices of [these] counters will be maintained as [stated] in accordance to the rules of Bursa Malaysia Securities, Chapter 8.13 (5) Trading and Trading Manual Chapter 4, Reference Price and Price Limits (4.3) Freezing of Price," it noted.
At market close today, Notion shares went up 29.73% or 33 sen to RM1.44, Notion-WC (up 35.76% or 29.5 sen to RM1.12), HLT (up 29.63% or 56 sen at RM2.45), HLT-WA (up 29.32% or 39 sen at RM1.72) and ES Ceramics (up 29.63% or 32 sen at RM1.40).
This was after these securities climbed between 29.13% and 57.14% or 29.5 sen and 43 sen per unit a day earlier.
Limit up and limit down are the maximum amounts by which the price of a security may advance or decline in one trading day.
According to Bursa rulings, when a stock or warrant hits a limit up or limit down for two consecutive trading days, "as the case may be on the next market day, the exchange may maintain the trading price at the last done price of the previous market day for such period as specified by the exchange".
http://www.theedgemarkets.com/article/bursa-freezes-upper-limit-prices-shares-warrants-hlt-notion-es-ceramics
