Got this in my comments:
- newbie has left a new comment on your post "MaeMode Defaults Its Loan Payments And Enters PN17...":
Dear Moolah, Did you notice the sharp fall in a number of stocks today?Stocks like BJTOTO,BKAWAN,TDM,CBIP and COASTAL plunged near the end of the session .Remembered you wrote about a similar subject some time ago.Any conspiracy theories behind such fall? Spooked quite a number of people.Thanks for your time reading this.
This is the 3rd time something like this happen and yet here we are again.
Has something been done?
Are they gonna say it's an error trade again?
21 Oct 2011: And FBM KLCI Decided To Have Its Own FLASH CRASH!
And almost one year ago,About Stock Market Yesterday: The Day KLSE Decided to Have Gap Up And Gap Down All Over
Same thing all over again.....!!!!!
Several stocks went limit down at the very last minute of trade.
Several stocks shot up too!!!
Come on SC.
Come on Bursa.
Don't tell me you guys saw nothing.............
Apparently they did and they just said " Trades ‘valid and genuine’
- Six counters from mid-caps to big ones, namely, Hap Seng Plantations Holdings Bhd, Batu Kawan Bhd, TDM Bhd, CB Industrial Product Holding Bhd (CBIP), Coastal Contracts Bhd and Berjaya Sports Toto Bhd, hit limit-down, or a 30% plunge, with a combined trade of RM43.1mil in that short time window during pre-close.
While the trading pattern may seem like an “error in trading” could have taken place, a Bursa Malaysia representative when contacted by StarBizWeek clarified: “With regards to the eight stocks which hit their limits-up (two) and down (six), Bursa Malaysia has investigated the matter and has confirmed with the broker that the basket order, which was from their institutional client, was valid and genuine.”
Has the institutional client lost their marbles???
Why DUMP all those shares and sell with limit down orders????
Yeah, I think extremely likely of the pre-close trading. It's nonsense and we get to see nonsensical trades like this!!!
Here is how the flash crash looked like....
See how these stocks literally fell off the cliff near the end of closing trade???
Which institutional client would give a mindless trade order like this??????
I just highlighted 3. There are more.
And here is the opposite.
Some stocks went straight up!!!!!!!!!!!!!
Oh yes, there are several more stocks trading in such an outrageous manner at end of trade. Some plunging while others surge limit up.
Come on Bursa, you cannot just say that these trades are from an institutional client and that the trades were valid and genuine.
Of course they are valid.
But.... think lah.
Do you call this a fair and orderly stock market???
Well again... if these institutional clients are so important then what about the retail investors???
Which retail investors wants to be a long term shareholder when market shenanigans like this happen and the culprits get away freely????