At 9.02 am, key index FTSE Bursa Malaysia KLCI gained 6.98 points, or 0.513 per cent to 1,368.37 from 1,368.89 at Wednesday’s close.Market breadth turned positive with gainers leading losers 336 to 35, while 125 counters were unchanged, 1,423 untraded and 20 others suspended.Rakuten Trade reckoned that the US stock market’s optimism may influence the Asian markets today albeit a short-lived one.
On the flip side, it reiterates the immediate support for the benchmark index is at 1,350 and remained cautious amid the wild swings of the market of late. “We, however, view the pullback as a positive move to prevent the market from overheating in order to establish more room for further gains to unfold. At the same time, the fresh buying on Wall Street and the rally in crude oil prices overnight may provide a sentiment boost on the local bourse,” it said.
Oil and gas-related stocks emerged as the top three most actives today, riding on the higher crude oil price.
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Bursa Malaysia in red at close after two days of gains | Malay MailKUALA LUMPUR, April 8 — Bursa Malaysia closed in the red, as investors pushed a pause button after recording gains for the past two days with sentiment turning negative on increased Covid-19 deaths and infected cases in emerging economies. At 5pm, key index FTSE Bursa Malaysia KLCI (FBM KLCI)...
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