Bursa stays optimistic on upcoming corporate results


KUALA LUMPUR: Bursa Malaysia had a constructive begin on Monday amid expectations that the market would stay range-bound given the continuing uncertainties in world markets.

At 9.05am, the FBM KLCI was up 4.67 factors to 1,553.79. The general market was constructive with 189 gainers in contrast with 104 decliners.

According to Kenanga analysis, the FBM KLCI will most likely stay range-bound within the close to time period with a lot of the technical indicators exhibiting impartial indicators.

“For now, traders will possible stay cautious in view of the low market visibility after final week’s patchy efficiency as tracked by the FBMKLCI (+0.3%), the FBM70 Index (+0.9%), the FBM Small Cap Index (+1.7%), the FBM Fledgling Index (-0.1%) and the FBM ACE Index (unchanged),” it mentioned.

Meanwhile, the corporate earnings results scheduled for this week will possible be in focus, in addition to the upcoming new itemizing on the ACE Market by electronics manufacturing options supplier Cnergenz.

On the bule-chip index, Petronas Chemicals rose seven sen to RM10.06, Press Metal gained six sen to RM5.32 and Hong Leong Bank added 22 sen to RM21.30.

Mayank gained 4 sen to RM9, Public Bank added two sen to RM4.54, CIMB climbed 4 sen to RM5.06.

IOI Corp dropped seven sen to RM4.33, Kuala Lumpur Kepong was flat at RM26.90 and Sime Darby Plantation was additionally unchanged at RM5.18.

Top actives have been Sapura Energy up two sen to 9 sen, KNM unchanged at 20 sen and MQTech flat at 5.5 sen.

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