What Happens To The Stock Market After Aidilfitri Holidays? - Kakiforex.com - Financial Market Media No. 1 in the World What Happens To The Stock Market After Aidilfitri Holidays? What Happens To The Stock Market After Aidilfitri Holidays?

May 17, 2021

What Happens To The Stock Market After Aidilfitri Holidays?

 Bursa Malaysia resumed trading this morning with mixed trading with the rise of key indices boosted by a positive performance on Wall Street on Friday last week.

Transactions on Bursa Malaysia and its subsidiaries closed on May 13-16 in conjunction with the Hari Raya Aidiltri public holiday.

At 9.07am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index rose 4.84 points to 1,587.36 from 1,582.52 when it closed in the previous week's trading.

Bernama reported that the key index was 5.03 points weaker at 1,577.49.

On the broader market, losers outpaced gainers 380 to 172 while 304 counters were unchanged, 1,329 untraded and five others suspended.

Turnover was 545.76 million worth RM229.85 million.

According to Malacca Securities Sdn Bhd, market sentiment is expected to remain weak especially in the context of the third Movement Control Order (PKP 3.0), although Wall Street performed positively followed by geopolitical tensions in West Asia, which pushed Brent oil prices slightly higher on Friday. let go.

Meanwhile, crude palm oil futures jumped more than RM4,500 a tonne the previous week.

Malacca Securities added investors are likely to focus on healthcare stocks following an increase in cases in several countries such as Taiwan and Singapore.

“Also, traders tend to look at sectors that are sure to record high turnover by the May financial performance reporting season, including packaging and plastics-related companies amid encouraging demand in this PKP situation.

"In addition, the rise in commodities can give hope to sectors such as plantations, energy and metal -related stocks," he said in a research note today.

Among heavyweights, Maybank rose eight sen to RM8.29, Public Bank rose six sen to RM4.20, Petronas Chemicals added five sen to RM8.15, TNB was seven sen higher at RM9.94, Maxis was flat at RM4 .53, IHH Healthcare fell nine sen to RM5.36, Top Glove declined eight sen to RM5.27 and Press Metal fell six sen to RM5.34.

For active counters, Kanger, KTG and Minda Global rose half-a-sen each to eight sen, 21 sen and 15 sen, Lambo was flat at 1.5 sen, Focus Dynamics and Tanco Holdings fell half-a-sen, to 5.5 sen and 14 sen, respectively. sen.

On the index board, the FBM Gold Index recovered 14.17 points to 11,577.21, and the FBMT 100 Index rose 20.01 points to 11,253.98.

However, the FBM Emas Syariah Index was 2.53 points lower at 12,927.87, FBM ACE declined 48.53 points to 7,897.63 and FBM 70 declined 29.15 points to 14,946.69.

By sector, the Plantation Index fell 32.89 points to 7,040.89, the Industrial Products and Services Index declined 0.95 points to 196.29 while the Financial Services Index jumped 92.63 points to 14,943.17.