Low Priced Stocks Are Back Hunted By Investors

 Bursa Malaysia started the trading session today with a higher opening following a balanced increase.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index rose 3.98 points to 1,516.51 from 1,512.53 at Monday's close.

Bernama reported that the key index opened 3.2 points higher at 1,515.73.

On the broader market, gainers outnumbered losers by 211 to 151, while 238 counters were unchanged, 1,626 untraded and 30 others suspended.

Turnover stood at 273.93 million units worth RM108.76 million.

Malacca Securities explained that the KLCI and broader markets declined yesterday due to the negative performance of the Chinese and Hong Kong markets following concerns over tightened regulations on selected sectors.

"We expect hunting activity for low value stocks to take place after the sell -off situation as market players place trading positions ahead of data from China or Hong Kong," he added.

Based on commodities, brokerage firms stated that crude palm oil (CPO) and crude oil have increased their profits.

In terms of sector, the market is expected to see buying interest in plantation stocks and technology stocks as well as oil and gas (O&G) following the significant selling situation yesterday.

Looking at heavyweights, Maybank rose one sen to RM8.01, Public Bank rose three sen to RM4.03, while TNB rose two sen to RM9.72 and IHH Healthcare rose five sen to RM5.82.

In addition, Petronas Chemicals was unchanged at RM7.99.

For active stocks, BCM Alliance warrants declined 11.5 sen to half -a -sen, while BCM Alliance declined half -a -sen to 15 sen.

Serba Dinamik and warrants rose one sen to 43 sen and 10 sen, respectively, while PUC Bhd rose half a sen to 18 sen.

On the index board, the FBM Gold Index jumped 31.19 points to 11,125.50, the FBM ACE rose 33.90 points to 7,357.40 and the FBM 70 added 29.92 points to 14,637.86.

The FBM Emas Shariah Index rose 22.47 points to 12,239.33 and the FBMT 100 Index rose 26.74 points to 10,820.01.

By sector, the Financial Services Index rose 63.72 points to 14,816.96, while the Industrial Products and Services Index rose 0.15 points to 189.16 and the Plantation Index ‘rocketed’ 40.64 points to 6,229.92.

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