KUALA LUMPUR: Bursa Malaysia was seen ticking increased in early commerce as buyers recovered after yesterday’s sell-off.
At 9.15pm, the index was up 2.76 factors to 1,536.88 as buyers picked up on bargains.
“Investors might search for laggard counters with excessive earnings visibility forward of the February reporting season,” stated Malacca SEcuritie Research.
“Whie the native bourse might take its remedy from the in a single day losses from Wall Street, buyers might look out for bargain-hunting actions particularly within the consumer-related sector amid the financial restoration in addition to the expertise sector given its optimistic prospects over the longer run,” it added.
From a technical view, the analysis agency stated the indications have been optimistic because the MACD histogram has prolonged a optimistic bar whereas the RSI overed above the 50% degree.
It pegged assist to 1,505 whereas resistance stands at 1,560.
On the blue-chip index, early gainers included Public Bank up two sen to RM4.14, CIMB up two sen to RM5.45 and Petronas Chemicals rising 4 sen to RM8.77.
On the broader market Sam Engineering gained 44 sen to RM24.14, TransOcean climbing 14 sen to RM3.21 and Hoover gaining 12 sen to RM1.05.
Most actives included DGB unchanged at three sen, SMTrack up one sen to 29 sen and AT Systemization
flat at three sen.
MPI dropped 20 sen to RM48.84, PMBTech sliding 12 sen to RM12.44 and Artroniq sliding 12 sen to 51.5 sen.
