The End of the Year Okay, Stock Market Outlook 2023

thecekodok

 The last trading day of Bursa Malaysia 2022 opened modestly, leaning towards gains after tracking Wall Street and the continued stimulus of window-dressing activity.


At the opening, the FBM KLCI index started 0.3 points at 1,491.93 before rising 4.2 points at 1,495.83 compared to Thursday's close at 1,491.63.


In the broader market, gains at 226 offset losses at 138, while 240 counters were unchanged, 1,651 untraded and 49 suspended.


Total revenue at 179.51 million units worth RM102.07 million.


According to Malacca Securities Sdn Bhd, Wall Street's positive rebound appears to be spilling over into the local market with banking, health, telecommunications and gaming stocks expected to be preferred.



Also not missing out are logistics, tourism, consumer and aviation themed stocks due to the re-opening of China's borders.


Heavyweight stocks saw Petronas Chemicals Group Bhd up 9 sen at RM8.62, Hong Leong Bank Bhd rallied 18 sen at RM20.72 while Public Bank Bhd, CIMB Group Holdings Bhd, Digi.Com Bhd, RHB Bank Bhd and Telekom Malaysia Bhd added 3 sen at RM4.38, RM5.83, RM3.98, RM5.78 and RM5.33.


Active stocks saw Infoline Tec Group Bhd up 3.5 sen at 93 sen while Vinvest Capital Holdings Bhd remained at 19.5 sen and Berjaya Corp Bhd was flat at 29 sen.


On the index board, the FBM Emas index added 26.7 points at 10,707.9, the FBMT 100 index jumped 27.92 points at 10,428.5, the FBM Emas Shariah index gathered 12 points at 10,896.4 and the FBM 70 canak index gained 28.8 points at 13,053.23 while the FBM ACE index fell 11.83 points at 5,334.38.


In terms of sectors, the Financial Services index rose 67.75 points at 16,604.46, the Plantation index added 15.01 points at 7,062.93, the Products and Services index gained 0.48 points at 181.71 and the Energy index gained 2.41 points at 776.72.

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