September 20, 2021

Low Value Stock Hunt Resumes After Malaysia Day Holiday

 Bursa Malaysia opened higher in today's trading session following potential low -value stock hunting activity after the Malaysia Day holiday.

However, as of 10.32am, the FTSE Bursa Malaysia KLCI (FBM KLCI) index was slightly down 6.89 points to 1,548.39 from 1,555.26 at the close on Wednesday.

According to Bernama, the key index opened 1.09 points higher at 1,556.35.

On the broader market, gainers outnumbered losers by 165 out of 158, while 277 counters were unchanged, 1,668 untraded and six others suspended.

Turnover stood at 169.04 million units worth RM84.62 million.

According to Malacca Securities, investors resumed hunting activities for potential low -value stocks following the return of foreign participation in the local stock market.

Such factors were influenced by the reopening of the economy with more flexibility of standard operating procedures (SOPs) detailed under the implementation of the National Recovery Plan (NRP).

As a result, it continues to strengthen investors' focus on recovery sectors such as building materials as well as consumers.

For heavyweights, Maybank and Public Bank rose one sen each to RM8.30 and RM4.02 respectively while Petronas Chemicals jumped three sen to RM8.04.

Meanwhile, IHH Healthcare remained at RM6.58 and Press Metal Aluminum declined two sen to RM5.72.

For active stocks, Malayan United, Impiana Hotels and Ageson were flat at 8.5 sen, 8.5 sen and 7.5 sen respectively.

On the index board, FBM 100 rose 10.19 points to 11,096.47, FBM 70 jumped 19.84 points to 14,978.21 and FBM ACE added 29.50 points to 7,225.25.

The FBM Emas index rose 11.10 points to 11,406.95 and the FBM Emas Shariah index ‘rocketed’ 3.79 points to 12,481.58.

By sector, the Financial Services index rose 26.99 points to 15,291.50, the Industrial Products and Services index rose 0.30 points to 200.0 and the Plantation index fell 13.76 points to 6,505.69.