PDT short selling in Edaran suspended, share price up 50%

An analyst told Bernama that the macro factors expected to affect the FTSE Bursa Malaysia KLCI next week, includes the Group of Seven(G7) meeting as investors search for clues on the trade outlook, as well as the timing of the next interest rate hike by the US Federal Reserve (Fed) which meets on June 12.

KUALA LUMPUR: Short selling under proprietary day trading (PDT) for Edaran Bhd has been suspended for the remainder of the day as it has hit trade limits set by the stock exchange.

Short selling under PDT for Edaran will resume tomorrow at 8.30am.

Edaran's share price soared in Monday trade to as high as 74.5 sen, 63% over its previous close. At 2.42pm, the counter was up 22.5 sen or 49.5% to 68 sen on the back of 31.89 million shares done.