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.
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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