Malaysia Stock Movers: DiGi, Hartalega, Hirotako, Proton, YTL
Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 5 p.m. close in Kuala Lumpur.
The FTSE Bursa Malaysia KLCI (FBMKLCI) Index fell 3.86, or 0.3 percent, to 1,521.94, its lowest close since March 29. The gauge slid 2.4 percent this week, its biggest weekly drop since Feb. 11.
Rubber-glove makers: Hartalega Holdings Bhd. (HART) rose 4 percent to 5.75 ringgit as rubber prices fell the most in five weeks, reducing manufacturers’ costs. Top Glove Corp. (TOPG MK) climbed 3 percent to 5.16 ringgit, its biggest gain in a month.
DiGi.Com Bhd. (DIGI) , a mobile-phone operator, declined 1.7 percent to 29 ringgit, its largest drop since Dec. 30, after the stock was cut to “hold” from “buy” at UOB-Kay Hian Holdings Ltd. There are “limited catalysts” for the stock in the near term, Vincent Khoo, an analyst at UOB-Kay Hian, wrote in a report today.
Hirotako Holdings Bhd. (HIRO) , a car safety-belt maker, jumped 5.9 percent to 1.99 ringgit, a record, after proposing a share split and bonus issue.
Proton Holdings Bhd. (PROH) , a carmaker, gained 5.5 percent to 3.43 ringgit, the most since March 8. Group Lotus Plc, the British sports car arm of Proton, should be able to break even in 2014, Dany Bahar, the unit’s chief executive officer, told reporters today. Group Lotus’s Lotus Cars Ltd. signed a syndicated financing deal for 270 million pounds ($441 million) with six lenders, according to a company statement.
YTL Corp. (YTL MK), a construction and utilities group, advanced 3.5 percent to 7.72 ringgit, its steepest increase since Nov. 24, after saying it has a cash pile of 12 billion ringgit ($4 billion) which it may use for acquisitions.
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