KUALA LUMPUR (Aug 4): Technology-related companies MQ Technology Bhd (MQTech), K-One Technology Bhd and Notion VTec Bhd, which have recently jumped onto the personal protective equipment (PPE) bandwagon, have continued to garner interest from investors.
At 10.48am, MQTech was five sen or 22.73% higher at 27 sen, with 188.1 million shares traded, while K-One’s shares rose eight sen or 13.45% to 67.5 sen, with 138.48 million shares done.
Notion VTec also hit limit up earlier this morning (29.73% or 33 sen higher) at RM1.44, with 42.43 million shares traded.
Rakuten Trade Research vice president Vincent Lau told theedgemarkets.com that the uptrend as well as ballooning volume of these stocks are driven by sentiment play as investors crowd into the Covid-19 pandemic space.
“This is the theme now… from glove counters to healthcare-related counters and also the PPEs, whichever company that is venturing into this pandemic play,” said Lau.
He, however, said it is still too early to tell what the contributions of the new ventures to the companies’ bottomlines are.
Trading interest in another tech counter, Key Alliance Group Bhd, has also surged, making it the third most active stock on Bursa Malaysia with 288.41 million shares traded as at 10.48am. Its share price was one sen or 8.33% higher at 13 sen.
On June 19, Key Alliance reported that it has obtained first stage approval to be legally allowed to market, distribute and sell the Care Gene Covid-19 Polymerase Chain Reaction (PCR) test kits manufactured by Well Bio Inc, Korea.
http://www.theedgemarkets.com/article/investors-still-flocking-towards-tech-stocks-have-jumped-pandemic-bandwagon
