KUALA LUMPUR (Sept 26): Steel counters recorded on Bursa Malaysia bounced at the beginning of today after the Federal Government issued temporary protection measures with respect to rebar imports into Malaysia.
It was accounted for that Putrajaya is wanting to force an obligation rate of 13.9% and 13.4% on steel loops and fortified bars individually and the last assurance is booked to be made inside roughly six months beginning from Sept 26 this year.
At 10.18am, Malaysia Steel Works (KL) Bhd drove the steel stock gainers by rising 13.5 sen or 15.05% to exchange at RM1.03, with 16.47 million shares changed hands.
This was trailed by Southern Steel Bhd's 12 sen or 9.35% picked up to settle at RM1.40, with 1.75 million shares done.
Melewar Industrial Group Bhd was exchanged at 63.5 sen rose 5.5 sen or 9.48%. Exchanging volume was 13.93 million shares.
Kinsteel Bhd up two sen or 36.36% at 7.5 sen, while Tatt Giap Group Bhd and Perwaja Holdings Bhd climbed 1.5 seb and one sen individually.
Kenanga IB Research has redesigned Ann Joo Resources Bhd to "Beat" with a higher target cost of RM2.24 (from RM1.69) and said that last week, the Federal Government issued temporary shield measures for steel loops and strengthened bars at an obligation rate of 13.9% and 13.4% forced separately towards sending out nations into Malaysian shores.
Ann Joo Resources Bhd, in the mean time climbed nine sen or 4.33% to exchange at RM2.17, with 2 million shares changed hands amongst RM2.09 and RM2.18.
Kenanga Research said in a note today that the proposed obligation was certain on the measure as it would help Ann Joo's steel re-bars normal offering costs (ASPs).
For More Updates : Malaysia Share Market | Malaysian Trading Signals | Malaysian Stock Signals | Malaysian Stock Tips | Stock Trading Picks
No comments:
Post a Comment