Short Selling Of Three O&G Companies' Shares Suspended Today

KUALA LUMPUR, March 10 (Bernama) -- The short selling under intraday short-selling (IDSS) for three oil and gas-related (O&G) companies on Bursa Malaysia has been suspended for the rest of the day today.

The companies are Hengyuan Refining Company Bhd, Petra Energy Bhd, and Hibiscus Petroleum Bhd. 

In a filing, Bursa Malaysia said it has been suspended for the rest of the day as the last done price of the approved securities dropped more than 15 per cent or 15 sen from the reference price.

It said the short selling under IDSS will only be activated tomorrow (Wednesday) at 8.30 am.

As of 11.50 am, Hengyuan Refining’s share had fallen as much as 22 sen or 11.57 per cent to RM1.68,  and Hibiscus Petroleum’s share decreased 19 sen or 7.95 per cent to RM2.39, while Petra Energy’s share was down 9.5 sen or 11.37 per cent to 74 sen. 

Petra Energy’s shares slid as much as 18 sen to 65.5 sen at around 10 am earlier today.

Asian markets experienced a regional sell-off yesterday as a surge in crude oil prices rattled the investment climate.

However, Bursa Malaysia rebounded today, tracking Wall Street’s upturn after US President Donald Trump signalled that the conflict with Iran could end soon.

At the time of writing, Brent crude was down 5.01 per cent to US$94.45 per barrel.

-- BERNAMA