This is the Analyst's Expectations About Bursa Malaysia - Kakiforex | Forex markets for the smart money. This is the Analyst's Expectations About Bursa Malaysia This is the Analyst's Expectations About Bursa Malaysia

June 2, 2021

This is the Analyst's Expectations About Bursa Malaysia

 Trading on Bursa Malaysia opened higher this morning with finance and healthcare counters being the big contributors, boosted by a stimulus package announced by the government recently to help boost investor sentiment.


At 9.03am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index rose 2.53 points or 0.16 per cent to 1,588.43 from 1,585.90 at Tuesday afternoon's close.


Bernama reported that the key index opened 0.43 points lower at 1,585.47.


Price movements in the market were positive with gainers outpacing losers by 236 to 119 while 213 counters were unchanged, 1,566 untraded and 11 others suspended.


Turnover was 304.28 million units worth RM123.98 million.


According to Malacca Securities Sdn Bhd, the FBM KLCI rebounded slightly on the first day of a full movement control order (PKP) as investors expected the vaccination process to boost investors' demand for recovery -themed stocks, thus giving confidence to heavyweights.


“Meanwhile, traders may turn to technology stocks as we believe the consolidation process may end after stabilizing over the past two weeks. As for commodities, the price of crude palm oil continued to decline but instead the price of crude oil surpassed the US $ 70 level, "he said in a research note here.


To focus on the sector, the firm is confident that the strengthening of oil prices, which are now above US $ 70, will drive some positive buying momentum at oil and gas counters.



"With the vaccination process currently underway, we expect traders to take advantage of vaccine -related, rehabilitation -themed and technology -themed stocks," he said.


In another development, Eka Noodles Bhd, whose shares have been suspended since May 31, will be delisted today.


Among heavyweights, Maybank rose two sen to RM8.22, Public Bank added one sen to RM4.22, PetChem was flat at RM8.05, while Petronas Gas declined eight sen to RM16.12.


The biggest losers included MISC which lost six sen to RM6.84, Sedania Innovator which lost five sen to 92 sen and Tomei Consolidated which lost four sen to RM1.35.


Stocks that posted big gains included Pharmaniaga which added 15 sen to RM5.89, IHH which rose 10 sen to RM5.49 and Dufu Technology which was nine sen higher at RM4.45.


As for the most active counter, Tanco was flat at 14.5 sen, Serba Dinamik rose 2.5 sen to 86 sen and Nova MSC rose one sen to 16.5 sen.


On the index board, the FBM Gold Index rose 25.89 points to 11,541.80 and the FBMT 100 Index added 20.23 points to 11,238.35.


The FBM Emas Syariah Index added 23.77 points to 12,776.45, the FBM 70 rose 35.86 points to 14,835.83 while the FBM ACE declined 0.61 points to 7,716.54.


By sector, the Financial Services Index gained 48.56 points to 15,133.46, the Industrial Products and Services Index rose 0.51 points to 191.76, while the Plantation Index fell 15.44 points to 6,816.49.