Sneaky Stock Market Soars During the Start of the Last Month of 2022


 The beginning of December 2022 saw Bursa Malaysia open positively, in line with the excellent performance overnight on Wall Street after the comments of the President of the Federal Reserve of the United States (US) became the main focus of the market.

At the opening, the FBM KLCI index started 2 points at 1,490.80 before rising 4.08 points at 1,492.88 compared to Wednesday's closing at 1,488.80.

In the broader market, gains at 286 offset losses at 116, while 231 counters were unchanged, 1,600 untraded and 14 suspended.

Total revenue at 228.96 million units worth RM94.08 million.

According to Rakuten Trade Sdn Bhd, the consolidation phase on the KLCI has ended with the emergence of buying activity that is expected to change interest in the construction sector in stimulating the domestic economy.

Heavyweight stocks saw Maybank reach 4 sen at RM8.67, Petronas Chemicals Group Bhd up 6 sen at RM8.60, CIMB Group Holdings Bhd up 2 sen at RM5.82, Public Bank Bhd remained at RM4.50 and Tenaga Nasional Bhd ( TNB) down 5 sen at RM9.37.

Active shares saw MQ Technology Bhd remain at 5 sen, Infomina Bhd gained 6.5 sen to 64.5 sen, Reach Energy Bhd added 1 sen to 5 sen, Zen Tech International Bhd and Fintec Global Bhd fell 0.5 sen to 3.5 sen and 1 sen.

On the index board, FBM Emas index rose 40.19 points at 10,673.89, FBMT 100 index reached 38.50 points at 10,390.76, FBM Emas Shariah index jumped 42.97 points at 10,826.06, FBM 70 canak 88.12 points at 12,939.21 and FBM ACE gathered 25.99 points at 14,237.

In terms of sectors, the Financial Services index fell 45.72 points to 16,669.06, the Plantation index rose 50.42 points to 6,778.19, the Products and Services index added 0.53 points to 182.29 and the Energy index added 9.73 points to 777.24.