Thursday, April 12, 2007

13-04-2007: Property stocks up, Dijaya surge 13.5%

Property stocks, including Dijaya Corp were traded higher in the early session on April 13 on expectations of a government announcement to boost the sector.

At 9.30am, the KLCI had risen 6.62 points to 1,313.81. Turnover was 220.7 million shares. There were 413 gainers and 101 losers.

Dijaya rose as much as 18 sen or 13.5% to RM1.51 as analysts described the company as undervalued and a laggard which was an undiscovered property gem. Within the first half-hour, there were 1.89 million shares done at prices ranging from RM1.40 to RM1.51. At 9.30am, it was trading at RM1.49, up 16 sen.

Sunrise rose 18 sen to RM3.30, WCT Land and Mah Sing 10 sen higher to RM1.42 and RM5.25, Glomac, Worldwide and YNH six sen higher to RM1.77, RM3.22 and RM3.14 respectively.


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