Emico share price jumps as volume quadruples

Emico share price jumps as volume quadruples
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KUALA LUMPUR (Oct 14): Emico Holdings Bhd emerged among Bursa Malaysia’s most-active stocks on Thursday after the trophy maker’s share trade volume quadrupled from a day earlier as the counter jumped past 40 sen for the first time in about two weeks.

On Thursday, Emico’s share trade volume spiked to 38.01 million at 9:55am from 8.99 million on Wednesday (Oct 13) while the stock’s price jumped five sen or 13.33% to 42.5 sen for a market value of about RM52.17 million based on the company’s 122.75 million issued shares.

Emico shares were traded at between 39.5 sen and 44.5 sen so far on Thursday.

The last time the stock’s price closed above 40 sen was on Sept 29, 2021, when it settled at 41.5 sen.

On Thursday, reasons behind Emico's share price and volume rise could not be immediately ascertained.

Year to date, Emico’s share price had risen to current levels from its closing price of 30 sen on Jan 4, 2021.

According to Emico’s website, the company is also a property developer and contract manufacturer of furniture and home furnishing products.

Chong Jin Hun