Beware Of The Unstable Situation Of Bursa Malaysia - - Financial Market Media No. 1 in the World Beware Of The Unstable Situation Of Bursa Malaysia Beware Of The Unstable Situation Of Bursa Malaysia

November 10, 2020

Beware Of The Unstable Situation Of Bursa Malaysia

 Bursa Malaysia recorded volatile trading as of today but the key index remained above 1,500 as sentiment was influenced by positive regional markets amid moderate profit margins in the local market.

At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) benchmark rose 2.34 points to 1,526.66 after opening 2.37 points lower at 1,521.95.

Losers led gainers by 392 to 357 while 876 counters were unchanged, 523 counters untraded and 33 others suspended.

According to Bernama, volume of 1.81 billion worth RM892.87 million.

Malacca Securities Sdn Bhd said the market is expected to experience little change today after recording recent strong movements, with the increase likely to be limited to immediate resistance levels between 1,530 and 1,540.

"We expect 1,500 to remain a good support level for the time being, followed by 1,470," the brokerage firm said in a research note today.

The banking sector is in a state of improvement led by Public Bank, Maybank, CIMB, Hong Leong Bank and RHB Bank following the absence of a comprehensive moratorium announced through the 2021 Budget which is a good sign for the bank's turnover.

However, rubber glove manufacturers, Hartalega and Top Glove were the biggest losers among index-linked counters, dragging down a composite index of 22.77 points for the FBM KLCI.

Hartalega declined RM1.74 to RM16.48 while Top Glove fell 63 sen to RM7.85.

Among heavyweights, Maybank rose 16 sen to RM7.28, Public Bank added 72 sen to RM16.02, Tenaga gained eight sen to RM10.34 while Petronas Chemicals declined one sen to RM6.36.

Among actives, AirAsia X rose three sen to seven sen, Kanger added two sen to 21 sen, while AT Systematization and Technodex declined 2.5 sen to 19 sen and 2.1 sen, respectively.

On the index board, the FBM Gold Index rose 6.64 points to 11,046.84 and the FBMT 100 Index added 4.64 points to 10,837.38.

The FBM Emas Syariah Index declined 177.09 points to 13,155.82, FBM 70 decreased 40.36 points to 14,448.68 and FBM ACE declined 208.14 points to 11,167.03.

By sector, the Financial Services Index jumped 300.88 points to 12,568.15, the Plantation Index rose 11.94 points to 7,160.67 but the Industrial Goods and Services Index declined 0.33 points to 150.92.