Singapore equities saw mixed moves on Thursday, with selective strength among blue chips while REITs showed sharper volatility. STI Top Gainers Top Performer: Jardine Matheson Holdings Ltd (J36. SG) +2.21% to S$76.31 Other notable gainers: Thai Beverage PCL +1.14% Wilmar International Ltd +1.08% Hongkong Land Holdings Ltd +1.07% Seatrium Ltd +0.84% Key Point: Jardine Matheson led STI gains, reflecting strength in regional conglomerates. STI Top Losers DFI Retail Group Holdings Ltd (D01. SG) -5.26% to S$4.50 Other laggards included: UOL Group Ltd -2.81% Yangzijiang Shipbuilding Holdings Ltd -1.47% Genting Singapore Ltd -1.47% SATS Ltd -1.08% REITs Movers Top Gainers BHG Retai...
Stock Performance
- Pekat Group Bhd (KL:PEKAT) surged 4% to RM1.22, marking a new all-time high since its listing nearly four years ago.
- The stock later settled at RM1.21, with over 1.5 million shares traded.
- At its latest price, Pekat's market capitalization stands at RM779 million.
Catalysts for the Rally
- Better-than-expected quarterly earnings, reflecting strong demand in the solar energy sector.
- Secured a new contract, boosting investor confidence in the company’s growth prospects.
Market Sentiment
- Investors are bullish on renewable energy stocks, with solar installation projects gaining traction.
- Pekat's continued expansion in the solar industry supports long-term growth potential.
Summary:
- Pekat Group stock hit a new record high, climbing 4% to RM1.22.
- Strong earnings and a new contract win fueled the rally.
- Investor confidence in renewable energy remains strong.
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