Stock Movement - 4 JAN 2010: Starhill Global surges up to 0.55 despite demise of Reit Manager's CEO

Starhill Global closes at day high of 0.55 (+0.025) on 4 Jan 2010 at high volume of 15,304,000 units. This is despite the news of demise of Franklin Heng, CEO of the Reit's Manager, YTL Pacific Star REIT Management Limited, released on 31 Dec 2009. The previous week, the stock was sold down to as low as 0.505 at high volume - refer to Stock Movement - Starhill Global Reit in Top 10 Volume Today.The closing price of 0.55 is also the highest for the past one month plus.

Author's Note
Apparently some has thought that the demise of the Reit manager's CEO will send the stock price lower, but the stock price has gone up substantially instead. It may be that either the sell down has already happened the previous week, or market has decided that the demise of the CEO will not have a significant impact on the fundamentals of the Reit. The stock was largely trading at 0.510 in the previous week. Those who have 'bravely' bought it would have made a handsome profit today. It remains to be seen whether this stock will finally see some light after a downtrend, followed by up and down ride since the middle of November when its acquisition plans were announced.