KUALA LUMPUR: Some of the local off-market deals done yesterday could provide clues on how the shares are going to perform over the next few days.
This is provided that the United States is able to give the global investing public the good news that it has found a way to stall the effects of its years of overspending.
By this week, equities are being positioned for a brief but massive rally.
Retail investors' appetite has been rising over the last few weeks in anticipation of a rally just before the 2014 Budget is tabled.
One of the companies that has been gaining is Malton Bhd, which owns the high-end Pavilion in Bukit Bintang.
Early this week, Business Times reported that Datuk Desmond Lim Siew Choon's Malton is seen working with Ho Hup Construction Co Bhd to build a second Pavilion in Bukit Jalil.
Excited punters helped the company's shares rise on heavy volume for two consecutive trading days. Malton, the fourth most-actively traded equity on the exchange yesterday, closed six sen higher at 97 sen a share.
Meanwhile, Genting Malaysia Bhd and Berjaya Land Bhd, due to the firms' sizes and personalities, stole the off-market trading limelight .
Genting is controlled by Tan Sri Lim Kok Thay, Malaysia's third richest man, while Berjaya is controlled by Tan Sri Vincent Tan Chee Yioun.
Genting saw some 71.85 million shares traded off-market at an average price of RM4.30 each. The shares accounted for 1.21 per cent stake, based on the company's paid-up of 5.938 billion shares.
For the third month running, large tracts of Berjaya Land shares were traded in the off-market, with some 121 million shares sold at 92 sen a piece.
In total, more than 190 million Berjaya Land shares, or about five per cent of the company, have changed hands off-market in the last three months.
However, the most intriguing off-market deal yesterday belonged to XOX Bhd, the ACE Market-listed mobile virtual network operator, which saw 21 million shares changing hands.
Rumours are rife in the market that Datuk Eddie Chai Woon Chet, who has been off the radar in recent weeks, will soon emerge as the driving force in XOX.
XOX shares were sold at 11.5 sen a share on the off-market, much lower than the stock market's closing of 14 sen.