KUALA LUMPUR (March 17): The FBM KLCI erased losses to close marginally higher today on last-minute buying interest ahead of the government’s announcement of a new stimulus package.
The benchmark index closed 1.01 points or 0.06% higher at 1,624.97 after having stayed in negative territory for the most part of the trading session.
A remisier, Jeffry Azizi Jaafar, said the drop in the index earlier was due to a correction in prices following the rally in the past three weeks.
“The market saw financial, plantation and technology [stocks] fall due to a consolidation after recent strong gains on market recovery optimism, driven by the ongoing vaccination programme and a decline in daily [new] Covid-19 infections,” he told
The stocks with negative momentum were:
Asia File Corp Bhd up five sen at RM2.16
BSL Corp Bhd up two sen at 69.5 sen
Formosa Prosonic Industries Bhd up 16 sen at RM2.5
Inari Amertron Bhd up 11 sen at RM2.86
Pineapple Resources Bhd down 3.5 sen at 45 sen
Toyo Ventures Holdings Bhd up 37 sen at RM2.7
Xian Leng Holdings Bhd up 4.5 sen at 75.5 sen
YBS International Bhd up 2.5 sen at 21 sen
The stocks with positive momentum were:
KPower Bhd up 22 sen at RM2.44
PRG Holdings Bhd up three sen at 22.5 sen
Sarawak Consolidated Industries Bhd up nine sen at RM1.68
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.
theedgemarkets.com highlighted seven stocks at Bursa Malaysia's afternoon close today. Five stocks indicated negative momentum while two showed positive momentum.
The stocks with negative momentum were:
Amtel Holdings Bhd up 25 sen at RM2.23
Bertam Alliance Bhd up two sen at 17 sen
BSL Corp Bhd up nine sen at 47.5 sen
Cam Resources Bhd up 2.5 sen at 42 sen
CN Asia Corp Bhd down five sen at RM2.30
DGB Asia Bhd up three sen at 30 sen
EG Industries Bhd up nine sen at 68 sen
HPMT Holdings Bhd down 1.5 sen at 45 sen
Ipmuda Bhd up nine sen at RM1.08
Kobay Technology Bhd up 41 sen at RM3.50
Kretam Holdings Bhd up 1.5 sen at 59.5 sen
Leweko Resources Bhd down one sen at 18 sen
Malaysia Smelting Corp Bhd (MSC) up 10 sen at RM1.60
The stock with positive momentum was:
JKG Land Bhd – up one sen at 11 sen
The stocks with negative momentum were:
CN Asia Corp Bhd – up 34 sen at RM2.02
Dynaciate Group Bhd – unchanged at 13 sen
Ecobuilt Holdings Bhd – up one sen at 21.5 sen
Ivory Properties Group Bhd – up one sen at 19.5 sen
LBI Capital Bhd – up four sen at 70.5 sen
Mudajaya Group Bhd – up two sen at 32 sen
Parkson Holdings Bhd – up 1.5 sen at 21 sen
SBC Corp Bhd – up five sen to 45 sen
Sealink International Bhd – up 6.5 sen at 23.5 sen
Shin Yang Shipping Corp Bhd – up 3.5 sen at 37 sen
Theta Edge Bhd – up 21 sen to 85.5 sen