KUALA LUMPUR (Oct 30): GIIB Holdings Bhd (KL:GIIB) told Bursa Malaysia it is unaware of any corporate developments that could have caused the sharp fall in its share price on Thursday, prompting the market regulator to query the group for unusual market activity (UMA).

The UMA was issued after the counter’s share price fell 23.9% or 17 sen to settle at 54 sen from 71 sen the previous trading day.

Selling pressure continued on Friday, with the counter hitting an intraday low of 24 sen during the morning session before recovering to 35.5 sen at the midday break – its lowest level since May this year. At 35.5 sen, it was down 18.5 sen or 34.26% from Thursday’s closing price of 54 sen and half of Wednesday’s 71 sen.

The two-day sell-off…