Latest Breaking News On - Abra mining industrial corp - Page 1 : comparemela.com
March 11, 2021 | 1:14 pm Font Size
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Daily trading in Philippine equities, Asia-Pacific’s second-worst performer this year with a 4.6% loss, has plunged from a record after the bourse suspended its most active stock Abra Mining & Industrial Corp.
Shares of unprofitable Abra Mining were suspended indefinitely amid a probe by the exchange and the regulator for alleged violations that include trading of unissued and unlisted company stock. The halt, since March 4, will last until the infractions are resolved, the bourse said.
While Abra Mining comprised 77% of the market’s daily transactions this year before the suspension, appetite for other smaller and speculative equities that had skyrocketed amid a buying frenzy by individual investors has also been quelled by the trading halt.
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