KUALA LUMPUR: Timber-related stocks, which had surged in the aftermath of the Japan earthquake last month on expectations of rising demand, and subsequently sold down ahead of the Sarawak elections, were back on investor's radar on Thursday, April 21.
At 3pm, Ta Ann rose 29 sen to RM6.52, Subur Tiasa 20 sen to RM3.28, Jaya Tiasa 11 sen to RM6.42, Lingui eight sen to RM1.93, WTK seven sen to RM1.94 and Leweko 1.5 sen to 23.5 sen.
An analyst with a bank-backed research house said Sarawak-based timber stocks had been sold down ahead of the state elections owing to uncertainties during the campaign period.
'But now with the Barisan Nasional government firmly in power, there are no more uncertainties and investors are looking to picking up these oversold stocks again,' he said.
At 3pm, Ta Ann rose 29 sen to RM6.52, Subur Tiasa 20 sen to RM3.28, Jaya Tiasa 11 sen to RM6.42, Lingui eight sen to RM1.93, WTK seven sen to RM1.94 and Leweko 1.5 sen to 23.5 sen.
An analyst with a bank-backed research house said Sarawak-based timber stocks had been sold down ahead of the state elections owing to uncertainties during the campaign period.
'But now with the Barisan Nasional government firmly in power, there are no more uncertainties and investors are looking to picking up these oversold stocks again,' he said.
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