KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 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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