Investing: Know Everything

Limit Up and Limit Down (涨停板和跌停板)

YOLO123
Publish date: Fri, 13 Nov 2020, 12:45 PM
YOLO123
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Back in August 2020, where the investment market is at its peak, trading at a minimum of 10 billions of volume almost everyday. We even saw 12 stocks limit up in a single day, which is a record in Malaysia market, but how can a stock considered as limit up?

 

There are two different types of limit up, which will differ between stocks that priced below RM1, and above RM1. For stocks lower than RM1, their limit up price will be RM0.30, where stocks that are higher than RM1, the maximum height they can go is 30%. For example, if a stock is RM0.60, the highest it can go will be RM0.90 in a day, as going up 30 cents will be their maximum. On the other hand, if a stock is RM2, the highest they can go is RM2.60, because it is a 30% increase in a single day.

 

For limit down, it is the same formula as the mechanism for limit up, where stocks below RM1 can only drop 30 cents in a day, and stocks that are above RM1 can only drop 30% in a day. However, one of the different mechanism will be applied on KLCI component stocks, that they only can drop 15% in a day. This is to prevent KLCI index from dropping too much, as this is the new rules set by BURSA that will be applicable until January 18, 2021. For example, Topglov, Harta, Maybank and so are only allowed to drop 15% in a day.

 

However, these limit up and down will only applied on company shares and company warrants, while structure warrants will not be restricted by this mechanism. Hence, structure warrants have the capabilities to drop 50%, or rise 200% in a day.

 

在今年八月的时候,股市来到了他的顶峰,因为每天都有超过100亿的交易量。我们还可以看到历史首见的12个公司同时涨停板,但是一只股票要怎么才能涨停板呢?

 

涨停板也有两种不同的装置,一种是给低过RM1的股,而另一种则是给高过RM1的股。低过RM1的股呢,在一天里面只能够升30仙,而高过RM1的股能在一天里面升30%。举例,RM0.60的股最多能在一天里面去到RM0.90,而RM2的股一天里面只能去到RM2.60。

 

跌停板和涨停板的装置大同小异,即低过RM1的股一天最多只能跌30仙,而高过RM1的股最多只能跌30%。但是值得注意的是BURSA在今年6月对蓝筹股做了一些调整,即它们一天里面最多只能跌15% (因为全部高过RM1),这是为了避免马股指数在一天里面下降太多。举例,TOPGLOV, HARTA, MAYBANK等都只能在一天里面跌15%,而这个新的规矩将会维持到2021年1月18号。

 

但是,涨停板和跌停板只适用于公司本身的股票和公司所提供的凭单,银行所出的凭单,也被称为“涡轮”并不被这些装置所限制,也就是说它们能在一天跌50%,也能在一天上200%。

 

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Discussions
1 person likes this. Showing 3 of 3 comments

kaishan97

谢谢分享

2020-11-13 13:41

ykloh

Thank you for the clarification.
Please advise if the share price hits limit up in the morning session close, will a new price limit up [based on the morning close] be applied in the afternoon session ?
Thank you

2020-11-14 01:00

YOLO123

@ykloh
No, limit up or down is a per day basis mechanism.
So if the share price limit up in the morning session, it will remain as its peak price even in the afternoon session.

2020-11-14 09:09

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