Tomei and Poh Kong are among the biggest gainers on Bursa Malaysia. Tomei surged 31.25%, or 10 sen to 42 sen with 1.6 million shares traded. Poh Kong jumped 17.28%, or seven sen to 47.5 sen with 8.2 million shares traded.
Gold prices surged over 2.5% to their highest in a month on Thursday after the U.S. Federal Reserve announced a massive stimulus to combat the economic toll of the coronavirus pandemic.
Reuters reported that spot gold jumped 2.5% to US$1,686.85 per ounce by 1:31 p.m. EDT (1731 GMT), having earlier hit its highest since March 9 at US$1,690.03. It has risen about 4.2% so far this week.
High gold prices benefit companies like Poh Kong and Tomei, as they will help boost the companies’ profit margin.
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