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Lunch Break Review – 8th Nov 2018

BURSA MALAYSIA (MON, 5 NOV 2018)

MID-DAY LUNCH BREAK REVIEW

 

 

 

 

 

BRIEF MARKET REVIEW:

The KLCI rose at mid-day as Asian shares tracked US equities’ post-election gains as the major averages hit their session highs overnight on Wall Street after U.S. President Donald Trump indicated he is willing to work with Democrats on policy initiatives that would help the economy keep growing.

It was reported Asian stocks rose to a one-month peak on Thursday, as investors — relieved to have moved past the U.S. midterm elections without any major political surprises — drove a Wall Street rally, while the dollar bounced and pulled away from 2-1/2-week lows. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5%.

 

STOCKS ON THE MOVE:

 FRONTKEN (RM0.88, +6.02%)

The stock rose as much as 6 sen to RM0.89 after the company announced its net profit jumped of 65% to RM15.2m in 3QFY18 and an interim single tier dividend of 0.7sen per share in respect of the financial year ending 31 December 2018. Volume was heavy with 23m shares traded at mid-day.

 

TATT GIAP (RM0.21, +20.00%)

The stock rose on high volume with around 40.0m shares transacted mid-day compared to its 5-day average traded volume daily of 8.0m. The company’s principal activities is as an importer and stockist of stainless steel materials.

 

 

Prepared by:

Malacca Securities Quantitative Trading and Analytics Division

BO1-A-13A, Level 13A, Menara 2,

No.3, Jalan Bangsar, KL Eco City,

59200 Kuala Lumpur

TEL: 03-2201 2100 (General)