BURSA MALAYSIA (FRI, 25 JAN 2019)
MID-DAY LUNCH BREAK REVIEW
BRIEF MARKET REVIEW:
The FBM KLCI rose 4.17 points or 0.25% with Asian equities after US technology shares gained overnight and as investors look ahead to crucial trade talks between China and the US. At 12:30pm, the KLCI settled at 1,697.76 after rising to its highest so far today at 1,700.02.
Gainers led losers by 403 to 305, while 300 counters traded unchanged. Volume was 1.32 billion shares valued at 798.73 million.
Stocks in Asia gained Friday afternoon despite fresh overnight uncertainties about U.S.-China trade negotiations.
The mainland Chinese markets, watched in relation to Beijing’s trade fight with Washington, advanced: The Shanghai composite gained 0.57% while the Shenzhen component rose 0.625%. The Shenzhen composite added 0.351%.
Hong Kong’s Hang Seng index gained 1.34%. Shares of Chinese tech juggernaut Tencent bounced 2.85% on the back of the company receiving approvals for two new games after months of waiting.
STOCKS IN THE LIMELIGHT:
DATASONIC GROUP BHD (RM0.515, +0.98%)
The Edge Markets reported that Datasonic Group Bhd’s share price increased as much as 4.5 sen or 8.8% to 55.5 sen so far today after the ICT company said yesterday the Malaysian Anti-Corruption Commission (MACC) clarified that Datasonic is not an entity under the commission’s investigation.
Today, Datasonic shares stood at 52 sen at 10:31am with some 24 million units being traded. The stock resumed trading today following Datasonic securities trade suspension since 3:36pm yesterday.
The stock closed mid-day at RM0.515, with a high volume of 29.1 million shares traded.
MY E.G. SERVICES BHD (RM0.995, -0.50%)
MY E.G. Services Bhd (MyEG) says it will appeal the RM9.34 million penalty imposed by the Malaysia Competition Commission (MyCC), because it has already conformed to the changes required by the anti-competition watchdog.
MyCC slapped the penalty on the e-government services provider for abusing its dominant position in the provision of services related to online foreign worker permit renewals.
In its second filing on the issue today, MyEG said it has been in continuous engagement with MyCC to ensure it had not been abusing its dominant position in the provision of its services.
MYEG closed at RM0.995 at mid-day on a low volume of 6.0 million shares traded.
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)
The Quantitative Trading and Analytics Division houses the elite data scientists, programmers and proprietary traders that work the proprietary algorithm trading desk of Malacca Securities. Join and network with us at our elite mPower Algorithm program, mPower Trading program and Elite Education courses.