KUALA LUMPUR, July 9 (Bernama) -- Bursa Malaysia closed lower on Thursday as renewed geopolitical tensions in West Asia weighed on investor sentiment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 5.97 points, or 0.36 per cent, to 1,677.64 from Wednesday's close of 1,683.61. The benchmark index opened 2.62 points lower at 1,680.99, and moved between 1,676.18 and 1,683.80 throughout the session. However, market breadth was slightly positive, with gainers leading losers 533 to 504, while 547 counters were unchanged, 1,112 untraded, and 12 suspended. Turnover slipped to 2.64 billion units valued at RM2.19 billion from 2.96 billion units valued at RM2.18 billion on Wednesday.
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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