Quick take: Niche Capital shares surge 71% in active trade


  • Stock on the Move
  • Friday, 07 Aug 2020

KUALA LUMPUR: Niche Capital Emas Holdings Bhd’s shares were hotly traded this morning with over 78 million shares exchanging hands, making it one of the most actively traded counters on Bursa Malaysia.

The counter, one of the top gainers on Bursa Malaysia, rose 71.74%, or 16.5 sen to 39.5 sen, its highest in almost 10 years.

Niche Capital, a Penang-based company, is principally involved in investment holding, trading, distribution and retail of jadeite stones, gold jewellery and ornaments. The group operates in three geographical markets - Malaysia, China, and Hong Kong.

Reuters reported that gold scaled a new all-time peak on Friday and was set for its ninth straight weekly gain.

Spot gold was up 0.3% at US$2,068.32 per ounce by 0035 GMT, having hit a record high of US$2,072.50 in early Asian trade. Bullion is up more than 4.7% so far this week.

Silver jumped 2.6% to US$29.68 per ounce, while platinum dropped 0.9% to US$988.76 and palladium climbed 0.5% to US$2,232.40.

Poh Kong Holdings Bhd rose 27 sen to RM1.66 while Tomei Consolidated was unchanged at RM1.53.

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Niche Capital Emas , gold

   

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