JCY reaches three-year high, Securemetric makes gains after tech stock surge pushes Nasdaq to record high

JCY reaches three-year high, Securemetric makes gains after tech stock surge pushes Nasdaq to record high
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KUALA LUMPUR (July 21): Technology stocks here have been making moves recently after surging tech counters pushed the Nasdaq to a record closing high yesterday.

JCY International Bhd and Securemetric Bhd seemed to be beneficiaries of the global tech stock momentum.

At 10.16am, JCY shares stood at 50.5 sen, a three sen or 6.32% rise from yesterday’s closing price. The company had a market capitalisation of RM984.97 million.

A total of 58.15 million JCY shares had been transacted so far today, making the tech stock the 10th most active on the local bourse.

The counter was at its highest level in over three years, recording a year-to-date rise of 60.32% from 31.5 sen.

Meanwhile, Securemetric saw a 1.5 sen or 13.64% rise in its share price to 12.5 sen, valuing the digital security solution provider at RM64.32 million. Around 40.8 million shares were traded.

Year to date, Securemetric shares had contracted 76.85% from 54 sen. However, it was on a gradual upward trajectory from its low of four sen on March 16.

Reuters reported yesterday that promising trial results of potential Covid-19 vaccines helped investors look beyond spiralling new cases of the disease, with Amazon.com Inc and Microsoft Corp providing the biggest boosts to the Nasdaq, which rose 2.51%.