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KUALA LUMPUR (March 17): theedgemarkets.com highlighted 12 stocks with momentum at Bursa Malaysia’s afternoon close today. Only one stock displayed positive momentum, while 11 showed negative momentum. The stock with positive momentum was: WZ Satu Bhd up 1.5 sen at 23.5 sen The stocks with negative momentum were: Al-Salam Real Estate Investment Trust (REIT) unchanged at 60.5 sen Barakah Offshore Petroleum Bhd up four sen at 11.5 sen Compugates Holdings Bhd unchanged at three sen Dynaciate Group Bhd up half a sen at 15.5 sen Lotus KFM Bhd up three sen at 29 sen MNRB Holdings Bhd up nine sen at RM1.42 Multi-Usage Holdings Bhd up 17 sen at 66.5 sen ....
The stocks with negative momentum were: Eng Kah Corp Bhd up five sen at RM1.97 Eupe Corp Bhd up five sen at 94 sen Globaltech Formation Bhd up six sen at 51 sen Malaysia Smelting Corp Bhd up 16 sen at RM1.74 Multi-Usage Holdings Bhd up three sen at 65.5 sen Paragon Union bhd up 23 sen at RM1.20 Rhone Ma Holdings Bhd up 2.5 sen at 87.5 sen Sarawak Consolidated Industries Bhd up five sen at RM2.19 Scicom (MSC) Bhd down 1.5 sen at 98.5 sen The list of stocks with momentum is generated using a proprietary mathematical algorithm highlighting stocks with a build-up in trading volume and price. The algorithm differentiates between stocks that exhibit positive (+ve) momentum and negative (-ve) momentum. ....
The stocks with negative momentum were: BCB Bhd down 0.5 sen at 37 sen Cheetah Holdings Bhd up two sen at 88 sen Focus Point Holdings Bhd up 13 sen at RM1.29 JF Technology Bhd up 28 sen at RM2.24 Kenanga Investment Bank Bhd up six sen at RM1.26 KPower Bhd down 12 sen at RM2.57 Multi-Usage Holdings Bhd up three sen at 51 sen Pantech Group Bhd up 1.5 sen at 46 sen UMS-Neiken Group Bhd up 23 sen at RM1.18 Zhulian Corp Bhd up 13 sen at RM1.78 The stocks with positive momentum were: Dagang NeXchange Bhd (DNeX) up four sen at 26.5 sen Eita Resources Bhd up 16 sen at RM3.11 ....
The lack of local economic data releases this week may be offset by developments elsewhere in the country. In parliament this week, the Dewan Rakyat will continue to debate at the committee stage the Budget 2021 allocation for the defence, education and home ministries. Once voted upon, the budget will move to the Senate for the final vote. On Monday, at the Kuala Lumpur High Court, the hearing of the Malaysian government’s forfeiture bid to recover US$340.26 million (about RM1.4 billion) from PetroSaudi International Ltd and its subsidiary PetroSaudi Oil Services (Venezuela) Ltd (PSOSL) is scheduled before Judge Mohd Nazlan Mohd Ghazali. The hearing had been adjourned twice as PSOSL is said to be seeking a settlement with Putrajaya. ....