Key Asic steals the show, shares more than double on six-year-high volume
KUALA LUMPUR: Key Asic Bhd stole the limelight on Bursa Malaysia today, with its shares more than doubling and trading volume hitting its highest level in over six years as technology stocks regained favour across Asian markets.
KUALA LUMPUR: Shares in Key Asic Bhd surged more than double on a six-year high trading volume as technology stocks regained favour across Asian markets. The fabless semiconductor maker opened at four sen, rising to a high of 9.5 sen, marking its biggest single-day gain on record. Trading activity was intense, with 216.97 million shares traded, over 16 times its 200-day average.
The stock ended the day at eight sen, still up 128.57 per cent. At this closing price, Key Asic was valued at RM113 million. Other technology stocks were mixed, with Dagang Nexchange falling, Zetrix slipping, Oppstar rising, and Ucrest gaining. Bargain hunters returned to tech stocks after a sell-off in late June to late July, with South Korea's Kospi up and Japanese tech counters also attracting renewed interest.
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