Yes, these must be desperate times!
Ranked as the worst performing stock market in a recent survey, Bursa KL is scratching its head on how to improve the volume of shares traded as well as to make it attractive to foreigners.
So one way to attract volume they thought will be to implement the one-sen tick.
From Monday, 27 July 2009, you will see shares being quoted with a one-sen difference across the board.
In the past, if share prices were below RM1, they would be quoted in 1/2 sen to 1 sen difference. When it is above RM1 to RM4.99, it would be quoted with a 2 sen difference. From RM5.00, it was quoted at 5 sen intervals and above RM10-with a 10 sen difference. Shares above RM50 such as BAT will be quoted with a 50 sen difference.
Do you think more shares will be traded with the one-sen tick in place or for that matter; will foreign investors be beguiled to trade with a vengeance on Bursa because of this petty difference from Monday onwards?
Come Monday and we will know.
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