KUALA LUMPUR, Nov 5 ― Bursa Malaysia opened higher today, taking the cue from the overnight Nasdaq performance as investors mulled the US Federal Reserve’s decision to begin tapering asset purchases later this month, dealers said.
“Hence, we expect the positive sentiment to spill over to tech stocks on the local front. However, the broader market sentiment could have limited upside potential as investors are still digesting the impact from the prosperity tax and stamp duty changes moving into 2022,” it said. For sector focus, the brokerage house said investors may still consider recovery theme sectors such as tourism and aviation to participate, while short-term theme may focus on the upcoming November reporting season.
Among the heavyweights, Maybank added three sen to RM8.03, Public Bank improved one sen to RM4.05, Petronas Chemicals gained two sen to RM8.33, Tenaga rose four sen to RM9.62 while IHH Healthcare was flat at RM6.52.
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