Proton Jumps 20.2% On Report Khazanah May Sell Stake

Proton Holdings' (5304.KU) shares are a sharp 20.2% higher at MYR4.34, on an Edge Weekly report that Malaysia's state investment firm Khazanah Nasional Bhd. may ask for proposals to sell its 43% stake in the carmaker, citing unidentified people familiar with the matter.

 A local dealer says "this news has been floating around in recent years. I don't think this stock reaction is warranted, but in this market people look at news specific stocks to trade on." Officials from Khazanah Nasional or Proton Holdings weren't immediately available for comments.