Intro4u2u

THE “erroneous” trade involving the shares in Kuala Lumpur Kepong Bhd (KLK) raises some serious questions about Bursa Malaysia’s current share trading system and the integrity of the market.While there is no proof that any intended manipulation did take place, there is also no proof to the contrary, leaving sceptics to doubt if the newly-modified trading system is yielding the correct result.What fuels the conspiracy theory is this: that the so-called erroneous trade had resulted in the FTSE Bursa Malaysia KL Composite Index (FBM KLCI) being boosted by almost six points.Secondly, the transaction took place towards the end of the trading day, just after the pre-closing phase. Ironically, this trading period is intended to mitigate price manipulation.And yet the shares were allowed to be crossed at RM17 apiece, well above the last transacted price of RM13.70. While the system may be effective in halting the syndicates from ramming up share prices towards the end of the trading day,

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