Political Unrest Continues to Complicate Exchange Market Reactions

 Bursa Malaysia opened slightly higher at the start of today's trading session as market sentiment picked up following expectations for stimulus packages from the United States and China as well as the decline in the daily Covid-19 case.

At 9.06am, the benchmark FTSE Bursa Malaysia (FBM KLCI) index gained 0.44 points to 1,493.44 from 1,493.0 at the close yesterday.

Bernama reported that the key index opened 0.15 points better at 1,493.15.

On the broader market, losers outnumbered gainers by 175 to 159, while 247 counters were unchanged, 1,591 untraded and nine others suspended.

Turnover stood at 209.27 million units worth RM107.34 million.

According to Malacca Securities, most investors are taking precautions in choosing deck stocks due to growing political uncertainty.

In addition, there is likely to be buying interest in companies with bright prospects in the middle of the upcoming corporate earnings season.

Recently, selected technology stocks have produced exceptional results and are expected to continue to rise and indirectly, it could also affect the electronics manufacturing technology and services sectors.

Looking at heavyweights, Maybank and Public Bank added one sen each to RM8.00 and RM3.98, respectively, while TNB rose two sen to RM9.65 and Petchem was flat at RM8.05.

However, IHH Healthcare declined seven sen to RM5.65 following the drop in daily Covid-19 cases.

For active stocks, Fitters rose two sen to 38 sen, Greenyield rose half -a -sen to 38.5 sen and Emico jumped eight sen to 38.5 sen.

Meanwhile, YGL added one sen to 31 sen and YLI increased 12.5 sen to 54.5 sen.

On the index board, the FBM Gold Index jumped 2.25 points to 10,987.91, the FBMT 100 Index rose 2.17 points to 10,694.3 and the FBM ACE rose 2.26 points to 7,089.19.

The FBM Emas Shariah Index declined 4.56 points to 12,066.71 and the FBM 70 fell 0.68 points to 14,619.15.

By sector, the Financial Services Index increased 15.68 points to 14,684.23, the Industrial Products and Services Index rose 0.18 points to 188.0 and the Plantation Index jumped 8.16 points to 6,017.4.

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