Friday 29 Mar 2024
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KUALA LUMPUR (Sept 5): Bursa Malaysia listed China-linked companies, popularly known as red chips, rose in active trade today on what is seen to be a domino effect from Sino Hua-An International Bhd's share price rise.

China Stationery Ltd and Xinghe Holdings Bhd are also on the list. At 11:51am, Sino Hua-An, which was the most-actively traded counter on Bursa Malaysia, climbed 2.5 sen to 18 sen with some 115 million shares traded.

Other red chips followed Sino Hua-An's lead. China Stationery gained 1.5 sen to 5.5 sen while Xinghe was up 0.5 sen at six sen.

China Stationery was the second most active stock with some 69 million shares traded. Xinghe was the sixth most active with about 37 million shares transacted.

"This could be a cyclical play as most of these red chips haven't been doing so well recently. If one of the counters goes up, the rest could simply be following," said a remisier who declined to be named.

 

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