The Malaysian share market reached a new high for the year today with the index touched an intra day high of 1,174.01(+17.58 or + 1.52%) at 3.30pm. The index closed at 1,172.38(+15.95 or 1.38%) Amongst the big gainers are plantation stocks such as Kulim, KLK and Genting Plantation. Also making huge advances are stocks related to Ananda Krishnan, such as Tanjong and Tanjong-Offshore. Not to be left behind are consumer counters such as Nestle, BAT and Dlady and conglomerate Sime.
Punters’ favorites such as KNM, SAAG, TIME, TIMECOM ended little changed.
Counters to look out for are:
1) KOSSAN has denied it is suffering from cash flow problem. The counter has fell from RM4.10 about 2 weeks ago to low of RM3.50 yesterday. It is holding well today with low of RM3.58 to close at the day high of RM3.66. CIMB has a target of RM6 for KOSSAN.
2) LIONIND has reached a new high for the year. It should lead the rest of the companies within the group, namely, LIONCORP, LIONDIV to new highs.
Disclaimer: Views expressed are intended for discussion purposes only.
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