Steel Counter Kinsteel cf. Peers

Local steel counter Kinsteel rallied in the morning from RM0.83 to RM0.98 but retreated in the afternoon to RM0.84 before regaining 7 percent to close at RM0.89

Other counters closed with lower gains. Ann Joo + 3.7%, Southern Steel + 2.4%, Lion Ind + 3.8% and Perwaja +4.6%. Considering PER, Ann Joo (pe 8), S Steel (pe 7), Lion Ind (pe 1) and Perwaja (pe 8) may be a better buy than Kinsteel (pe 15).