The rise comes as retail investors have become more active in the market recently. Last month, they accounted for almost half of the volume traded.
IJM securities, namely the mother share and the warrants, were among the top 10 most-actively traded securities yesterday.
The mother shares gained 5.5 per cent, or 15 sen, to close at RM2.89, its highest in 40 months. The warrants were up by 16 sen to RM1.78, a record close.
Meanwhile, MRCB , the master developer for the KL Sentral development in Brickfields, ended the day 9 sen higher at RM2.10 with more than 11 million shares traded.
The Malaysia-Finance Blogspot, under a post headlined "Does a MRCB-IJM Land merger make sense?", noted that "the word had switched from an IJM Land privatisation to a merger with MRCB. Something along the lines of a UEM Land-Sunrise deal it seems".
Early this month, UEM Land Holdings Bhd launched a RM1.4 billion conditional takeover offer for Sunrise Bhd.
But the price gains also indicate that financial-based blogs are becoming more influential, at least among the smaller retail investors.
Last month, another blog said that MMC Corp Bhd had made a bid to take over the UEM Group. MMC shares rose to a 27-month high on October 5 after it confirmed interest in UEM.
Jupiter Securities head of research Pong Teng Siew said financial blogs are increasingly gaining momentum in the marketplace due to renewed retail interest in equities.
By Business Times
