REVIEW: Trading on Bursa Malaysia took on a frenetic pace over the past week with a record daily trading volume of 11.21 billion shares recorded on Monday as investors flocked to equities in an an attempt to catch a rally.
Trading in a highly speculative environment, investors picked up on thematic plays in the market in response to news flow over the Covid-19 situation.
Oil and gas as well as glove maker counters have been the focus of attention since the onset of the coronavirus – the first to capitalise on the volatile price movement of crude and the second to cash in on the huge earnings pipeline secured by glove manufacturers in light of strong demand.
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On Monday, the daily trading volume surged past the previous record of RM9.56bil to top RM11bil in tandem with a healthy trading value of RM4.4bil. The top traded stocks were prolific names including Icon Offshore, which alone saw nearly seven million shares exchanging hands, Velesto, Bumi Armada
, KNM, Hibiscus Petroleum and SAPURA ENERGY.
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