Hot stock: Yoma Strategic slides 27% after business update on Myanmar situation

SHARES of Yoma Strategic plunged to a new low on Wednesday morning following a two-day trading halt.

As at 9.20am, the mainboard-listed counter was trading 7.5 Singapore cents or 27.3 per cent lower at 20 cents, with 26.8 million shares worth S$5.4 million changing hands.

The decline eased slightly to 5.5 cents or 20 per cent as at 9.36am, with the counter trading at 22 cents.

Shareinvestor data showed that no married deals were recorded in early trade.

Yoma's share price beating comes after the group issued an update late Tuesday evening, warning of a potential change in business sentiment due to the ongoing political crisis in Myanmar, even as its business services have mostly resumed operations.

Heads of the group's businesses are "working closely with the frontline staff to monitor the situation closely", Yoma said, adding that it is still too early to ascertain the longer-term impact to its businesses.

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Yoma on Monday morning called for a trading halt upon news that Myanmar's military had arrested civilian leader Aung San Suu Kyi along with other senior party officials, and declared a one-year state of emergency.

Yoma shares ended last Friday at 27.5 cents before resuming trading on Wednesday.

READ MORE: Myanmar coup may see investors exit; currency may weaken: analysts