KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Cepatwawasan
Group Bhd (-ve)
SHARES
in Cepatwawasan Group Bhd (fundamental: 0.7/3, valuation: 2/3), which triggered
our momentum algorithm yesterday for the second time this year, closed up two
sen or 2.55% at 80.5 sen.
It
saw 1.28 million shares traded, versus its 200-day average volume of 120,745.
The
oil palm planter’s share price spiked recently, after it announced a 187% jump
in net profit to RM10.4 million for the third quarter ended Sept 30, 2016
(3QFY16), from RM3.62 million a year earlier, on higher sales volume and better
crude palm oil and palm kernel prices. Revenue rose 8% year-on-year to RM79.08
million.
Subsequently,
its shares gained 9.5 sen or 14% to close at 78.5 sen on Oct 21, from 69 sen on
Oct 20.
Cepatwawasan
is trading at 0.52 times its net book value.
Source: http://www.theedgemarkets.com/my/article/stock-momentum-cepatwawasan-group
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