Quick take: JF Tech slips 6.5% as trading resumes

  • Markets
  • Tuesday, 27 Oct 2020

KUALA LUMPUR: JF Technology Bhd's share price fell 6.5% in morning trade with the onset of profit-taking as the counter resumed trading after a one-day suspension.

At 10am, the stock was trading 32 sen lower at RM4.48 apiece with 7.61 million shares crossed.

The counter had resumed trading after being suspended yesterday in light of the group's announcement that it had teamed up with the venture capital arm of Huawei Investment & Holding Co Ltd to set up a test contactor manufacturing facility in China.

While the collaboration is seen as a positive development, investors had bought the share price higher last week on market talk over the expected announcement.

Over a three-day period, the stock jumped over 15% to end at RM4.80 last Friday.

In a filing with Bursa Malaysia yesterday, JF Technology said Huawei's Hubble Technology Investment Co Ltd will contribute a total of US$1.5mil to JFH Technology Sdn Bhd, which will serve as the partnership's manufacturing arm in China.
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