Investors Pounding Awaiting MKN 'Lockdown' Decision

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 Trading on Bursa Malaysia was weak as it opened for trading this morning driven by concerns among investors that tighter movement restrictions might be implemented to curb the spread of Covid-19 infection.


At 11am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index declined 4.48 points to 1,570.84 from 1,575.32 at the close yesterday.


Bernama reported that the key index opened 5.89 points higher at 1,569.43.


On the broader market, losers outpaced gainers with 363 to 187 and 281 counters unchanged while 1,381 were untraded and 18 others suspended.


Turnover was 574.60 million worth RM275.39 million.


According to Malacca Securities Sdn Bhd, buying activity when share prices are low may emerge but the firm is also aware that overall market sentiment remains cautious as investors await the National Security Council's (NSC) decision on the implementation of the Movement Control Order (PKP) at its meeting. today.


As for commodities, the firm said, both crude palm oil and crude oil experienced a decline after the recent rise.



“Investors may choose stocks that are sure to record high earnings in the middle of the company's financial reporting season such as the packaging-related sector and important consumer goods.


"Buying activity will also emerge for tech stocks after an overnight rise on the Nasdaq," the research firm explained in a note today.


Among heavyweights, Maybank rose three sen to RM8.30, TNB rose one sen to RM9.91, IHH Healthcare jumped 11 sen to RM5.39, Top Glove added two sen to RM5.39, Public Bank declined four sen to RM4.16, Petronas Chemicals lost 16 sen to RM7.78 and CIMB lost five sen to RM4.20.


As for the actives, Tanco rose half-a-sen to 15 sen, Sedania Innovator jumped 16.5 sen to 77 sen, LKL International was two sen higher at 41.5 sen, Focus Dynamics and Talam Transform were unchanged at six sen and 2.5 sen respectively. Eka Noodles fell 4.5 cents to one cent.


On the index board, the FBM Gold Index declined 37.34 points to 11,378.13, and the FBMT 100 Index fell 30.40 points to 11,092.56.


The FBM Emas Syariah Index fell 35.87 points to 12,670.74, the FBM ACE rose 11.15 points to 7,613.27 while the FBM 70 fell 35.09 points to 14,560.14.


By sector, the Plantation Index fell 12.0 points to 6,906.31, the Industrial Products and Services Index declined 2.40 points to 185.43 and the Financial Services Index weakened 12.70 points to 14,862.96

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