The Stock Bounces Slightly At The End Of This Week


 At 9.00am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was up 3.51 points at 1,602.48 from Thursday's close of 1,598.97.

The index opened 2.34 points weak at 1,596.63, but rebounded later.

It opened a bounce from yesterday’s losses as a result of tracking the performance of global equities, the latest development of the Russia-Ukraine crisis while investors are wary of possible oil sanctions against Russia.

On the broader market, investors saw gainers outpacing losers by 213 to 110, while 225 counters were unchanged, 1,754 untraded and 44 suspended.

Total turnover at 161.55 million units worth RM113.66 million.

According to Public Investment Bank Bhd, Wall Street shares rose and government bonds remained under pressure when US President Joe Biden met NATO and G7 leaders to discuss follow -up action against the Russian aggression.

He added that the two sides are said to have entered into an agreement to increase preparedness for the potential threat of Russia's chemical and nuclear weapons.

In addition, investors are seen still waiting for feedback from European Union (EU) leaders on the possibility of restricting Russian fossil fuel imports.

Heavyweights saw Malayan Banking Bhd (Maybank) remain at RM8.98, Public Bank Bhd rose 1 sen to RM4.66, Petronas Chemicals Group Bhd gained 4 sen at RM9.66 and IHH Healthcare Bhd and CIMB Group Holdings Bhd gained 5 sen at RM6.59 and RM5.32.

Active stocks saw Dagang NeXchange Bhd (DNeX) rise 2 sen at RM1.06, Opcom Holdings Bhd added 2.5 sen at 82 sen while Velesto Energy Bhd and CSH Alliance Bhd lost 0.5 sen at 10.5 sen and 14 sen while Eduspec Holdings Bhd remained two sen .

On the index board, FBM 70 rose 80.32 points at 13,781.74, FBM Emas Index added 33.76 points at 11,444.52, FBM Emas Shariah index jumped 60.75 points at 12,065.18, FBMT 100 index reached 33.83 points at 11,133.21 and FBM ACE jumped 39.35 points at 5,631.54.

In terms of sectors, the Products and Services Industry index accumulated 0.84 points at 205.32, the Plantation index strengthened 13.83 points at 8,048.69 and the Financial Services index disappeared 22.83 points at 16,755.36.