Friday 29 Mar 2024
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KUALA LUMPUR (Dec 17): Petronas Chemicals Group Bhd. shares rose as much as 3.62 percent, more than any full-day gain since Nov. 5, while Malaysia's benchmark index declined.

Market Metrics

* Shares advanced to RM9.45, higher than any close since Nov. 16, from RM9.12 in the previous session.

* Trading volume was more than double the 20-day average.

* The FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index lost 0.3 percent, and the MSCI AC Asia Pacific Index rose 0.1 percent.

Market Insights

* In the past year, the stock had a similar or greater gain eight times at the close; it declined in the next trading session six times (0.7 percent, on average).

* Shares are at a 3.4 percent discount to the analysts' consensus target price. The stock traded at an average 2.7 percent discount over the past year.

* Hong Leong Investment Bank Bhd analyst Lim Ooi Leong gave a new recommendation on Petronas Chemicals of hold and assigned a target price of RM9.74 on Dec. 14.

* Stock advanced 22 percent in the past 52 weeks as the FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index lost 5.2 percent.

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