KUALA LUMPUR, July 31 (Bernama) -- Bursa Malaysia ended higher on Friday as investors continued to accumulate blue-chip stocks in line with stronger performances across most regional markets. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.50 points to 1,724.90 from yesterday’s close of 1,720.40. The benchmark index opened 0.83 of a point higher at 1,721.23, and moved between 1,715.67 and 1,730.12 throughout the day. The broader market was positive with gainers outpacing losers 707 to 402, while 547 counters were unchanged, 1,085 untraded and 56 suspended. Turnover expanded to 3.03 billion units valued at RM3.56 billion from 2.49 billion units valued at RM2.25 billion on Thursday.
Key Takeaway: Super Micro Computer Inc. (SMCI) saw its shares soar 38% overnight after announcing a plan to maintain its Nasdaq listing status and the appointment of a new auditor.
Details of the Announcement:
- New Auditor: The company’s board has appointed BDO USA, P.C., an affiliate of BDO International, as its independent auditor.
- Compliance Plan: Super Micro has submitted a plan to Nasdaq, requesting additional time to meet its compliance standards.
Next Steps:
- The company expects to finalize its annual report for the fiscal year ending June 30, 2024, and its quarterly report for the period ending September 30, 2024, within the grace period that Nasdaq may provide.
- Super Micro expressed confidence in its ability to become compliant with Nasdaq’s periodic reporting requirements.
Market Impact:
The proactive measures have boosted investor confidence, reflected in the sharp rise in the company’s share price.
Comments
Post a Comment