G3 jumps 21% to new trading high

An analyst told Bernama that the macro factors expected to affect the FTSE Bursa Malaysia KLCI next week, includes the Group of Seven(G7) meeting as investors search for clues on the trade outlook, as well as the timing of the next interest rate hike by the US Federal Reserve (Fed) which meets on June 12.

KUALA LUMPUR: By the wrap of Thursday's morning session, G3 Global Bhd's share price was up 23 sen or 21.5% to a record-breaking high of RM1.30.

The stock has been on a tear since the start of the week, having put on 48 sen or 60% of its value since last Friday on high trading volume. 

The price of its warrants has also surged in tandem, jumping 27 sen or 29% to RM1.20 a unit, and putting on 60% of its value since Monday.

On April 5, G3 appointed a new chairman, Wan Khalik Wan Muhammad, and managing director, Datuk Khan Mohd Akram.