KUALA LUMPUR, Feb 25 ― Bursa Malaysia extended its gains at mid-morning, but healthcare counters, including heavyweights glove makers continued to suffer from selling pressure following the start of the National Covid-19 Immunisation Programme in the the country. At 11.05am, the benchmark FTSE.
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Despite the market rally that took place in most part of this year, share prices of steel-related counters have largely stagnated as investors stayed away from the sector.
However, thanks to the anti-dumping duty news and the recovery play in the sector, such counters are finally waking up from deep slumber.
Yesterday, Masteel jumped 34.58% to 72 sen, its highest in over two years, while Lion Industries gained 17.46% to 74 sen, its highest since mid-2018.
Melewar surged by 74.63% to 58.5 sen, Mestron Holdings Bhd gained 10.26% to 21.5 sen, Mycron Steel Bhd rose by 52.69% to 71 sen and Hiap Teck (pic) was up by 5.49% to 48 sen.
Melewar surged by 74.63% to 58.5 sen, Mestron Holdings Bhd gained 10.26% to 21.5 sen, Mycron Steel Bhd rose by 52.69% to 71 sen and Hiap Teck (pic) was up by 5.49% to 48 sen.
KUALA LUMPUR (Dec 24): Share prices of Bursa Malaysia-listed steel-related companies including Hiap Teck Venture Bhd and Malaysia Steel Works (KL) Bhd (Masteel) rose in morning trade today among most active stocks on news Malaysia had imposed anti-dumping duties on certain flat-rolled steel products from China, South Korea and Vietnam for five years.
At 9.53am, Hiap Teck had risen 1.5 sen or 3.23% to 48 sen, while Masteel added 4.5 sen or 8.85% to 56.5 sen.
Hiap Teck registered a trading volume of some 48 million shares, while Masteel saw about 45 million shares changing hands.
Yesterday, news reports, quoting Malaysia’s Ministry of International Trade and Industry (MITI), reported that the duties on flat-rolled products of non-alloy steel plated or coated with aluminium and zinc came after an anti-dumping investigation was carried out on behalf of the domestic industry.
are among the most actively traded counters on Bursa Malaysia.
Hiap Teck was unchanged at 46.5 sen with over 20 million shares traded. Masteel added 3.85%, or two sen to 54 sen and Lion Industries fell 0.79%, or 0.5 sen to 63 sen. rose four sen to RM7.95, Ann Joo added one sen to RM1.44, Choo Bee advanced nine sen to RM1.69 and Mycron rose three sen to 48.5 sen.
The Ministry of International Trade and Industry said the Government is imposing anti-dumping duties on certain flat-rolled steel products from China, South Korea and Vietnam for five years.
The duties on flat-rolled products of non-alloy steel plated or coated with aluminum and zinc, come after an anti-dumping investigation was carried out on behalf of the domestic industry, the ministry said.
Bursa Malaysia extends uptrend in early trade 24 Dec 2020 / 10:22 H.
KUALA LUMPUR: Bursa Malaysia has extended its uptrend from yesterday to open slightly higher this morning, as market sentiment remained positive following the clarity on vaccine deliveries, dealers said.
At 9.04am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 0.49 of-a-point to 1,647.99 after opening 1.58 points higher at 1,649.08.
On the broader market, gainers led losers 292 to 109, while 1,425 counters were unchanged, 322 untraded and 38 others suspended.
Volume stood at 1.03 billion units worth RM315.07 million.
In a note today, Malacca Securities Sdn Bhd expects the positive momentum to be sustained today, ahead of the long weekend.