August 17, 2021

Low Priced Stocks Continue To Be A Concern In A Situation Of Political Unrest

 Bursa Malaysia traded higher as the key index rose 0.34% on hunting activity for low value stocks.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index rose 5.15 points to 1,508.05 from 1,502.90 at the close on Monday.

According to Bernama, the key index opened 2.37 points higher at 1,505.27.

On the broader market, gainers outnumbered losers by 213 to 137, while 243 counters were unchanged, 1,607 untraded and eight others suspended.

Turnover stood at 213.17 million units worth RM84.40 million.

Meanwhile, Rakuten stated that the FBM KLCI will recover from its lows as low -value stock hunting activity emerges.

Rakuten also expects trading on the local bourse to be more stable and will see the index trade between the 1,500-1,510 level.

For heavyweights, Maybank and CIMB jumped five sen each to RM8.11 and RM4.56, respectively, while Public Bank and TNB added one sen each to RM3.94 and RM9.76, respectively.

Press Metal rose four sen to RM4.95, Hong Leong Bank 'rocketed' 20 sen to RM18.40 and Petronas Chemicals declined one sen to RM7.94.

For active stocks, Tanco and Mobilia rose 1.5 sen to 23 sen and 55.5 sen, respectively, TFP Solutions jumped one sen to 21.5 sen and KNM was flat at 22 sen.

On the index board, the FBM ACE jumped 36.47 points to 7,125.69, the FBMT 100 Index rose 19.18 points to 10,736.84 and the FBM 70 fell 42.30 points to 14,436.60.

The FBM Emas Index rose 22.03 points to 11,022.44 and the FBM Emas Shariah Index rose 10.51 points to 12,091.2.

By sector, the Financial Services Index increased 54.74 points to 14,786.41, the Industrial Products and Services Index rose 0.36 points to 188.29 and the Plantation Index jumped 20.78 points to 6,268.01.