Kuala Lampur, June 11 -- KUALA LUMPUR, June 12 - Tanco Holdings Bhd shares plunged 60 per cent on Thursday in their steepest one-day decline since the property developer was listed 39 years ago, according to The Edge.

The business news portal reported that the stock hit the maximum 30 sen daily limit-down within the first 30 minutes of trading, marking its fourth consecutive session of sharp losses. The counter remained at its floor price of 20 sen after more than 205 million shares changed hands.

The decline triggered an automatic suspension of intraday short selling, which Bursa Malaysia imposes when a stock falls by more than 15 per cent or 15 sen from its previous closing price. Trading under the mechanism is expected to resume tomo...