False casino news sends shockwaves through the market!

Berjaya Corp Bhd (BCorp) gained today after news broke out that Forest City will have a new casino.

Turned out it wasn’t true.Prime Minister Datuk Seri Anwar Ibrahim had firmly denied the rumour.

The short-lived rumour has a huge impact on the market.

At 5 p.m., Genting’s stock closed at RM2.62, down 1.13% from Wednesday’s RM2.65, initially opening at RM2.66, it quickly dipped, hitting RM2.60, a 1.89% drop during trading. The day marked a departure from its initial upward movement, with persistent downward momentum throughout trading hours.

In contrast, BCorp’s shares ended positively, climbing 3.51 per cent, or one sen, to 29.5 sen by the closing bell, compared to Wednesday’s close of 28.5 sen, with an initial opening of 29.5 sen and peaking at 32 sen during trading.

Earlier Bloomberg reported discussions have commenced between Berjaya founder Tan Sri Vincent Tan, Tan Sri Lim Kok Thay of Genting Group and the government regarding the potential of establishing a casino in Forest City, Johor.

Later, Prime Minister Datuk Seri Anwar Ibrahim denied considering giving a casino licence to Forest City.