The main market barometer, the FTSE Bursa Malaysia KL Composite Index climbed 6.7 points higher to end the day at 1,530.92 points. Gainers outpaced losers 629 to 404, while 434 counters were unchanged, 808 untraded, and 15 others suspended.Stocks on Bursa Malaysia started the day on a positive note, buoyed by a stronger Wall Street performance overnight, Bernama reported.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the rise in Bursa Malaysia's benchmark index was mainly lifted by banking and gaming heavyweights. "The FBM KLCI seemed to be quite well supported at the 1,520 to 1,530 level, hence we reckon an accumulation of stocks to persist on dips, especially the blue chip stocks wherein valuations are currently hovering at attractive levels," he told Bernama today.
"Notwithstanding the heightened volatility, we expect the index to move between the 1,530 and 1,560 range for the remaining of the week. From a technical point of view, we will see the immediate support at 1,520 and resistance at 1,565,” Thong said. Among the heavyweights, Petronas Chemicals shed seven sen to RM8.28, IHH Healthcare eased two sen to RM6.46, while Maybank, Public Bank and Tenaga were all flat at RM7.99, RM4.04 and RM9.60 respectively.
Source: News Formal (newsformal.com)
tzafrul_aziz you turning a blind eye on Victor ?
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