Kuok Group sells 7.69m Hexagon Holdings shares

KUALA LUMPUR (Jan 10): The Kuok Group disposed of 7.69 million shares of HEXAGON HOLDINGS BHD [] in early January 2012 at an average price of 20 sen.

A filing with Bursa Malaysia on Tuesday showed that its unit Gaintique Sdn Bhd disposed of the shares from Jan 4 to 9 and reduced its stake to 9.78% or 12.978 million shares.



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CIMB Research has technical buy on Hexagon

KUALA LUMPUR (Nov 10): CIMB Equities Research has a technical buy on Hexagon Holdings at 23.5 sen at which it is trading at a price-to-book value of 0.6 times.

It said on Thursday that Hexagon also took out its long term downtrend line recently and has been building a base just above it.

Wednesday’s long white candle on rising volume could potentially be the signal that suggests it is again on the move.

“Technical landscape is improving with its MACD doing a rollover and its RSI has also hooked upwards. And since its RSI is not yet overbought, there is still room on the upside.

“Traders should remain cautious though and place a stop below yesterday’s low of 20 sen just in case. A push past the 25 sen level would send prices climbing towards 30 sen to 32 sen next,” it said.