The amount required to push up the index/ stocks is not small. So it likely involves big funds.
Which funds were so "generous" to push up the market abruptly and benefitedthe sellers.
Lembaga Tabung Haji was one of them.
On the last trading day of 2017, Ranhill share price jumped abruptly from RM0.735 at 4:44:57 to close at RM0.80
Note that there were only 1.2736m shares transacted for that entire day, of which 0.5996m shares were done at RM0.80. This left 0.674m shares traded between RM0.705 and RM0.735.
Lembaga Tabung Haji transacted 0.914m shares that day. This implied that the fund must have, at least partially, bought shares at RM0.80.
Is it acceptable to inflate the share price artificially like this?
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