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.
theedgemalaysia.com has identified six stocks with notable momentum on Bursa Malaysia as of the noon market break on Wednesday.
Positive Momentum Stocks
Optimax Holdings Bhd (KL)
- Price Movement: Up four sen or 5.88% at 72 sen
- Description: Optimax Holdings Bhd specializes in eye specialist services.
Betamek Bhd (KL)
- Price Movement: Up 3.5 sen or 8.33% at 45 sen
- Description: Betamek Bhd is involved in the manufacturing and supply of electronic products for the automotive industry.
Velocity Capital Partner Bhd (KL)
- Price Movement: Down half a sen or 6.67% at seven sen
- Description: Velocity Capital Partner Bhd operates in the financial and investment sector.
Negative Momentum Stocks
Oceancash Pacific Bhd (KL)
- Price Movement: Up 1.5 sen or 3.53% at 44 sen
- Description: Oceancash Pacific Bhd produces and distributes felt and nonwoven fabrics primarily for the automotive industry.
Kim Loong Resources Bhd (KL)
- Price Movement: Up nine sen or 3.90% at RM2.40
- Description: Kim Loong Resources Bhd is involved in the cultivation of oil palm and processing of palm oil.
Algorithmic Insights
The list of stocks with momentum is generated using a proprietary mathematical algorithm that identifies stocks with significant changes in trading volume and price movements.
- Positive Momentum (+ve): Indicates a rising price trend on increased volume.
- Negative Momentum (-ve): Indicates a falling price trend on increased volume.
Note: This list is not a buy or sell recommendation but highlights stocks with higher-than-normal volume and price movements. Momentum tends to persist for a short period. Investors should consider the fundamental score and valuation score for each stock if they wish to ride the momentum.
Comments
Post a Comment