KUALA LUMPUR, March 10 (Bernama) -- Bursa Malaysia rebounded to end higher today with the benchmark FBM KLCI reclaiming the 1,700 psychological level, supported by improved global sentiment after US President Donald Trump signalled a potential de-escalation of the Iran conflict, alongside Malaysia’s stronger Industrial Production Index (IPI) data. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 27.51 points, or 1.64 per cent, to 1,701.68 from yesterday’s close of 1,674.17. The benchmark index opened 10.68 points higher at 1,684.85, its lowest point today, and hit a high of 1,703.61 in the late afternoon session. Market breadth was positive, with gainers thumping losers 929 to 382. A total of 361 counters were unchanged, 982 untraded and 19 suspended. Turnover declined to 3.60 billion units worth RM3.75 billion from yesterday’s 5.52 billion units worth RM5.87 billion.
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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