Bursa Malaysia Controls Excellent Pace Driven by Wall Street's Performance

thecekodok


Bursa Malaysia closed the morning trading session in a 'red' performance due to the attraction from the counters of the plantation and real estate sectors.


At 2.30pm, the FTSE Bursa Malaysia FBM KLCI lost 1.68 points (0.1%) to 1,623.89.


The main index opened slightly higher at 1,625.87 and it moved between 1,621.44 to 1,626.35.


Broad market sentiment was negative with losers outnumbering gainers by 560 to 365 and 475 counters unchanged.


According to Malacca Securities, as CelcomDiGi submits a proposal to be selected to build Malaysia's second 5G network, this may spur interest in the telecoms stock.


Rakuten Trade Sdn Bhd's Vice President of Equity Research, Thong Pak Leng, however, expects continued buying activity taking cues from the strong performance on Wall Street overnight and expects the index to hover in the range of 1,625 to 1,640.


Meanwhile, the index board remained lackluster with FBM100 down 0.08 percent to 12,099.24, FBM Emas down 0.07 percent to 12,508.16 and FBM Ace down 0.33 percent to 5,642.92.


Among the active stocks were Aeon Credit Service (M) Bhd which rose 18 sen to RM7.36 and Nestle (Malaysia) Bhd which rose 40 sen to RM109.

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