KUALA LUMPUR: Trading volume on Bursa Malaysia surged to an all-time high of 9.59 billion shares on Wednesday as punters chased penny stocks but therein the danger lies.
Market watchers said most of the penny stocks surged in morning trade, pushed up by traders in the absence of any strong fundamentals, and luring the newbies and ordinary investors to jump in.
However, in late afternoon, the heavily traded stocks were off their intra-day highs by a wide margin as traders had already off-loaded some of their shares.
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