This article first appeared in The Edge Financial Daily on August 16, 2017 - August 22, 2017

HCK Capital Group Bhd (-ve)

SHARES in HCK Capital Group Bhd (fundamental: 0.55/3, valuation: 0/3), which triggered our momentum algorithm yesterday for the second time this year, closed 21 sen or 16.8% higher at RM1.46.

It saw 569,400 shares traded, compared with its 200-day average volume of 19,512 shares.

Last Thursday, the company said it was unaware of any reason for the spike in its share price recently, except for a couple of updates on corporate exercises, after Bursa Malaysia issued an unusual market activity (UMA) query to the company after its share price hit limit-up.

The corporate updates HCK mentioned in its reply to the UMA query included the completion on Monday of the subdivision of every one share into five shares, and the fixing of the issue price involving its renounceable rights issue with free warrants at five sen each, with the exercise price of each warrant fixed at 96 sen. At the current share price, HCK is trading at 0.7 times its book value.