Attract! These Two Counters Are Expected To Gain Attention On The Exchange - Kakiforex.com - Financial Market Media No. 1 in the World Attract! These Two Counters Are Expected To Gain Attention On The Exchange Attract! These Two Counters Are Expected To Gain Attention On The Exchange
InstaForex

September 7, 2021

Attract! These Two Counters Are Expected To Gain Attention On The Exchange

 Bursa Malaysia opened higher in today's trading session in line with regional markets which recorded gains yesterday after investors focused on the US jobs report published last Friday.


As a result, the publication of the data is expected to give the impression that the Federal Reserve will further delay policy tightening measures amid concerns over the labor market.


As at 10.17am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index rose 0.78 points to 1,582.37 from 1,581.59 when it closed on Monday.


Bernama reported that the key index opened 0.16 points better at 1,581.75.


On the broader market, gainers outnumbered losers by 260 out of 129, while 326 counters were unchanged, 1,512 untraded and 25 others suspended.


Turnover stood at 278.93 million units worth RM109.51 million.


Malacca Securities said with the number of daily Covid-19 infections declining, it is likely to drive the focus on the recovery sector as a whole.


It is also augmented by a discussion that is currently being detailed on the relaxation of standard operating procedures (SOPs) in preparation for the endemic phase of Covid-19.



Commodity prices, crude palm oil (CPO) rose and aluminum prices also soared following concerns sparked over the supply of raw materials as a result of the coup in Guinea.


Following that factor, building materials counters and farm counters are expected to gain deck focus due to higher aluminum and CPO prices at the moment.


For heavyweights, Maybank gained one sen to RM8.34, Petronas Chemicals increased three sen to RM8.13 while TNB fell four sen to RM10.30.


Public Bank and IHH Healthcare were unchanged at RM4.09 and RM6.35, respectively.


For active stocks, KNM rose 1.5 sen to 30.5 sen, GIIB Holdings jumped 4.5 sen to five sen and TFP Solutions rose one sen to 24 sen.


On the index board, FBMT 100 rose 13.90 points to 11,286.38, FBM 70 rose 20.83 points to 15,224.58 and FBM ACE ‘rocketed’ 42.30 points to 7,317.88.


The FBM Emas Index added 13.60 points to 11,594.45 and the FBM Emas Shariah jumped 18.60 points to 12,693.55.


By sector, the Financial Services index rose 12.24 points to 15,488.46, the Plantation index jumped 7.29 points to 6,633.0 and the Industrial Products and Services index rose 0.80 points to 200.91.