PETALING JAYA: A string of stocks managed to attract investor interest in an otherwise cautious market and they included glove counters, property firm UOA Development Bhd and hard-disk drive maker JCY International Bhd.
Analysts said the price of latex touched RM8 per kg yesterday, off its recent high of RM11 per kg in April, signalling a possible downtrend in the price of the commodity.
Latex makes up more than 60% of glove makers' costs and a decline in its price is welcome news for the industry.
At the close, counters like Supermax Corp Bhd and Adventa Bhd were up 27 sen and 13 sen to RM3.22 and RM1.67 respectively.
In the case of Latexx Partners Bhd, news of a possible takeover could also have been a catalyst.
Latexx, which rose 14 sen to RM1.63, has been speculated to be the subject of a takeover for a few weeks now after a first attempt in May failed due to issues related to pricing.
Meanwhile, dealers attributed interest in UOA Development, which reached a multi-month high of RM1.70 after rising 19 sen, to “pure market play”.
The stock, at this level, is still 35% down on its June initial public offering (IPO) price of RM2.60.
CIMB Research said in a report that UOA Development's poor share price performance since its listing gave investors a chance to accumulate the stock, adding that investors' realisation of the strong core earnings growth for 2011 to 2013 could spark a re-rating, along with robust sales or more land-banking activities.
Hard-disk driver maker JCY was also on the active list yesterday, finishing one sen lower at 57 sen after hitting an intra-day high of 61 sen. JCY gave up its gains after CIMB Research issued a “trading sell” call on it, seeing that the stock had hit the house's target price.
On Wednesday, the stock put on 28% due to expectations that it would receive more orders as the floods in Thailand affected its competitors.
Sentiment remained cautious in the broader market with 232 counters finishing higher while 500 ended lower.
The 30-stock FTSE Bursa Malaysia KL Composite
Index was down 9.07 points, or 0.63%, to 1,441.18 at the close, with most investors still feeling nervous about the uncertainties in the debt-laden West.
Concerns over slower growth in economic powerhouse China also continued to weigh on investor sentiment, analysts said.
Analysts said the price of latex touched RM8 per kg yesterday, off its recent high of RM11 per kg in April, signalling a possible downtrend in the price of the commodity.
Latex makes up more than 60% of glove makers' costs and a decline in its price is welcome news for the industry.
At the close, counters like Supermax Corp Bhd and Adventa Bhd were up 27 sen and 13 sen to RM3.22 and RM1.67 respectively.
In the case of Latexx Partners Bhd, news of a possible takeover could also have been a catalyst.
Latexx, which rose 14 sen to RM1.63, has been speculated to be the subject of a takeover for a few weeks now after a first attempt in May failed due to issues related to pricing.
Meanwhile, dealers attributed interest in UOA Development, which reached a multi-month high of RM1.70 after rising 19 sen, to “pure market play”.
The stock, at this level, is still 35% down on its June initial public offering (IPO) price of RM2.60.
CIMB Research said in a report that UOA Development's poor share price performance since its listing gave investors a chance to accumulate the stock, adding that investors' realisation of the strong core earnings growth for 2011 to 2013 could spark a re-rating, along with robust sales or more land-banking activities.
Hard-disk driver maker JCY was also on the active list yesterday, finishing one sen lower at 57 sen after hitting an intra-day high of 61 sen. JCY gave up its gains after CIMB Research issued a “trading sell” call on it, seeing that the stock had hit the house's target price.
On Wednesday, the stock put on 28% due to expectations that it would receive more orders as the floods in Thailand affected its competitors.
Sentiment remained cautious in the broader market with 232 counters finishing higher while 500 ended lower.
The 30-stock FTSE Bursa Malaysia KL Composite
Index was down 9.07 points, or 0.63%, to 1,441.18 at the close, with most investors still feeling nervous about the uncertainties in the debt-laden West.
Concerns over slower growth in economic powerhouse China also continued to weigh on investor sentiment, analysts said.
