Sino United Worldwide Consolidated Ltd (OTCMKTS:SUIC) Stock Falls After Key Updates

Sino United Worldwide Consolidated Ltd (OTCMKTS:SUIC) fell 4% after announcing that SUIC Beneway Malaysia is engaged in discussions with partners P2P, fintech firms, and lenders as the Malaysians head office unveils the Beneway Group ecosystem platform. As a result, the SUIC corporation is anticipated to become a major Southeast Asia player by providing digital financing and value-added solutions to its clients and partners.

Market Stats

On Monday, SUIC stock fell 3.60% to $0.6049 with more than 18.4K shares, compared to its average volume of 23.79K shares. The stock moved within a range of $0.5500 – 0.6595 after opening trading at $0.60.

Major Trigger

The Beneway platform is a cutting-edge banking and finance ecosystem that serves as a viable alternative for conventional banking. The ecosystem partners may collaborate on products or services that will reach a much broader client base and benefit from economies of scale.

Such fintech companies, on the other side, will have a larger presence to service their present and new consumers, where previously resources and geographical regions were a barrier. In addition, Beneway envisions a giant Fintech platform that connects numerous stakeholders, whereas conventional banks have been operating in a fragmented manner. So SUIC is worth watching.

Traders Corner

SUIC stock is trading below the 20-Day and 50-Day Moving averages of $0.64 and $0.57 respectively. The stock is trading in neutral zone with the RSI at 45.