At 11:18am today, the counter cut losses at 95.5 sen after some 40 million shares exchanged hands. However, Dayang securities' proprietary day trading (PDT) and intraday short selling (IDSS) have been suspended for the rest of today after the stock's substantial price drop, Bursa Malaysia said. Dayang shares fell with other actively-traded O&G-related counters including Sapura Energy Bhd and Bumi Armada Bhd as world crude oil prices fell. Reuters reported that oil prices dropped on Thursday, extending falls from the previous session amid surging US crude inventories and weak demand from refineries. Yesterday, Dayang said in a bourse filing that its net loss in the first quarter ended March 31, 2019 (1QFY19) narrowed to RM4.14 million from a net loss of RM21.31 million a year earlier.

Source: The Edge Markets May 23, 2019 04:26 UTC