KUALA LUMPUR (Sept 28): QL Resources Bhd shares rose as much as 38 sen or 6%, more than any full-day gain since June 4, while Malaysia's benchmark index declined.

QL Resources Raised to Neutral at RHB Research Institute

Market Metrics

* Shares advanced to RM6.98, higher than any close since the company's March 2000 initial public offering, from RM6.60 in the previous session.

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

* The FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index lost 0.2 percent, and the MSCI AC Asia Pacific Index rose 0.3 percent.

* The relative strength index on the stock was above 70, indicating it may be overbought.

Market Insights

* In the past year, the stock had a similar or greater gain two times at the close. It advanced after both occasions.

* Shares are at a 37 percent premium to the analysts' consensus target price. The stock traded at an average 17 percent premium over the past year.

* RHB analyst Soong Wei Siang upgraded the recommendation on QL Resources to neutral and assigned a target price of RM6.80 today.

* Stock advanced 76 percent in the past 52 weeks as the FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index gained 2.1 percent.