KUALA LUMPUR: MRCB led property stocks higher in late morning trade on Friday, Sept 3, especially companies with development projects in Iskandar Malaysia.
At 11.10am, MRCB rose eight sen to RM1.84 with 16.46 million shares done. Tebrau Teguh added 2.5 sen to 72.5 sen while UEM Land gained three sen to RM1.87.
E&O advanced four sen to RM1.14.
However, the FBM KLCI fell 8.29 points to 1,432.78 on profit taking of big capitalised stocks. Turnover was 354.74 million shares valued at RM510.82 million. There were 247 gainers, 282 losers and 237 stocks unchanged.
Meanwhile, OSK Research said it believes a major mass housing boom will likely occur in the first half of this decade.
In a research note issued on Friday, Sept 3, it said 'we are in the early stage of a property 'super cycle' led mainly by mid-to-high end landed PROPERTIES [] which may peak sometime in 2012/13 and followed by a potential slump'.
It said stocks with focus in the mid-to-high end segment are the best bets for investors in the next 12 months.
Although the expected peak in 2012/13 may have dire consequences, the phenomenal boom that immediately precedes it gives investors an excellent opportunity to profit from the trend for at least the next 12 months.
'We therefore seize the opportunity to upgrade our property sector call to OVERWEIGHT from NEUTRAL,' it said.
At 11.10am, MRCB rose eight sen to RM1.84 with 16.46 million shares done. Tebrau Teguh added 2.5 sen to 72.5 sen while UEM Land gained three sen to RM1.87.
E&O advanced four sen to RM1.14.
However, the FBM KLCI fell 8.29 points to 1,432.78 on profit taking of big capitalised stocks. Turnover was 354.74 million shares valued at RM510.82 million. There were 247 gainers, 282 losers and 237 stocks unchanged.
Meanwhile, OSK Research said it believes a major mass housing boom will likely occur in the first half of this decade.
In a research note issued on Friday, Sept 3, it said 'we are in the early stage of a property 'super cycle' led mainly by mid-to-high end landed PROPERTIES [] which may peak sometime in 2012/13 and followed by a potential slump'.
It said stocks with focus in the mid-to-high end segment are the best bets for investors in the next 12 months.
Although the expected peak in 2012/13 may have dire consequences, the phenomenal boom that immediately precedes it gives investors an excellent opportunity to profit from the trend for at least the next 12 months.
'We therefore seize the opportunity to upgrade our property sector call to OVERWEIGHT from NEUTRAL,' it said.
No comments:
Post a Comment