Bursa queries Ni Hsin over share price, volume rise

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KUALA LUMPUR (Sept 18): Ni Hsin Resources Bhd is slapped with an unusual market activity (UMA) query by Bursa Malaysia today, over the recent rise in its share price and trading volume.

Shares of Ni Hsin, a cookware manufacturer, had risen from below 32 sen in the beginning of September, to hit a high of 47 sen yesterday. Today, the counter closed 0.5 sen lower at 46.5 sen, with 45.8 million shares traded.

Bursa has requested Ni Hsin to respond to the UMA query by disclosing any corporate developments which might have led to the the spike in the company’s share price recently.

The company has yet to respond to Bursa’s query as at press time.