Monday, 30 Mar 2020 05:57 PM MYT
This was despite a massive RM250 billion Prihatin Rakyat Economic Stimulus Package announced by the government last Friday. In a note today, Malacca Securities Sdn Bhd said no doubt the economic stimulus packages announced across the globe including Malaysia’s, had managed to halt the recent global equities meltdown.
While reckoning that the RM250 billion stimulus package is a necessary economic backstop, MIDF Amanah Investment Bank Bhd Research strategy head Syed Muhammed Kifni Syed Kamaruddin however, said it would not be able to provide a sufficiently strong impetus towards general market sentiment. Of the actives, Careplus bagged four sen to 26.5 sen, Vortex added two sen to five sen, Armada trimmed half-a-sen to 13 sen, while MLAB and Sapura Energy were unchanged at 1.5 sen and 7.5 sen respectively.
Main Market narrowed to 1.82 billion shares worth RM1.64 billion from 3.09 billion shares worth RM2.49 billion last Friday.
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