Within a day, CIMB and TENAGA overtook PBBANK's market capitalization and fell out of the top three
(KUALA LUMPUR 11th) As the descendants of the late Tan Sri Zheng Hongbiao announced a gradual reduction in shareholding, Public Bank $PBBANK (1295.MY)$ Today, in the face of heavy selling pressure, stock prices fell, and the market capitalization was further affected by Lianchang International $CIMB (1023.MY)$ and national energy $TENAGA (5347.MY)$ It surpassed one after another and directly fell out of the top three in the Malaysian stock market capitalization list and ranked fourth.
The popularity of the Bank of China soared after resuming trading at 9:00 this morning. Before 12 noon, the trading volume surpassed 80 million shares. At the same time, it fell 23 cents, or 5.03%, to RM4.34 in early trading.
Public Bank was unable to recover its losses in midday trading and continued to decline. When the market closed, it reported RM4.31, a drop of 26 cents, or 5.69%. The trading volume reached 0.1 billion 62.1 million1,300 shares, making it the most popular stock in the market.
At the same time as the stock price of Popular Bank fell, CIMB and China Energy rose again today, driving their market capitalization to surpass Public Bank for the first time in history, ranking 2nd and 3rd respectively.
As of the closing of the market, CIMC International had risen 14 cents, or 1.73%, to RM8.22, and its market capitalization had increased to RM88.072 billion. Meanwhile, National Energy had risen to RM84.055 billion, starting at 8 cents or 0.56%, at RM14.46.
After today's setback, the public bank's market capitalization has dropped to RM83.661 billion, which was slightly surpassed by National Energy by less than RM0.4 billion, and only ranked 4th.
As for the 5th ranked IHH Healthcare Group $IHH (5225.MY)$ The latest market capitalization is RM63.868 billion, and there is still a big gap with the Public Bank.
Currently, Bank of Malaysia is still the king in terms of market capitalization of Malaysian stocks $MAYBANK (1155.MY)$It reached RM127.427 billion.
Source: Nanyang Siang Pao
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