PETALING JAYA: Construction stocks gained momentum yesterday, driven by expectations of resumed growth for the sector, as well as the anticipation of the economic stimulus package to be announced month-end.
The Bursa Malaysia Construction Index rose 7.02 points to 211.17 yesterday, led by Gadang Holdings Bhd
(+13.6%), Ekovest Bhd (+12.03%), AME Elite Consortium Bhd (+12.3%), WCT Holdings Bhd (+10.2%) and Gabungan AQRS Bhd (+9.9%).
Socio-Economic Research Centre executive director Lee Heng Guie noted that the construction sector had shown a marginal turnaround of 1% during the fourth quarter of 2019.
“The sector has been performing poorly over the past few quarters and growth is still negative on a full-year 2019 basis.
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