KUALA LUMPUR: Bursa Malaysia Securities has issued an unusual market activity (UMA) query to CN Asia Corp Bhd owing to its recent sharp rise in its share price and volume.
At midday, CN Asia rose 30 sen or 29.41% to RM1.32 with 2.92 million shares traded. Its trading volume was seven times the 20-day average.
The shares are up 65% in the past five days and rose 113% in the past 30 days. So far this year, it has appreciated over 218%.
Bursa Securities had directed the company to check with its board of directors and shareholders on the reason for the rise in share price and advise investors accordingly.
“Investors are advised to take note of the company’s reply to the UMA query, which will be posted on Bursa Malaysia’s website under company announcements, when making their investment decision, ” it said.