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.
Jerasia
Capital Bhd (+ve)
SHARES
in Jerasia Capital Bhd (fundamental: 0.35/3, valuation: 1.1/3), which gained
one sen or 1.49% to close at 68 sen yesterday, triggered our momentum algorithm
for the first time this month.
One
million shares were exchanged, compared with the stock’s 200-day average volume
of 89,621.
The
company’s share price has risen significantly since last week, jumping 16.5 sen
or 32% to close at 67.5 sen on Oct 19, from its closing of 51 sen on Oct 18.
The
jump triggered an unusual market activity query from the bourse regulator,
though Jerasia said it wasn’t aware of the reason behind the sudden gain.
For
the second quarter ended Sept 30, 2015 (2QFY16), the company’s net profit rose
32% y-o-y to RM1.28 million, as revenue rose 18% to RM94.92 million.
Jerasia
is trading at 0.39 times its net book value.
Source: http://www.theedgemarkets.com/my/article/stock-momentum-jerasia-capital-1
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