KUALA LUMPUR: The FBM KLCI seems on monitor for one more constructive buying and selling session, outperforming world markets that recorded weak performances in February as a result of onset of the Ukraine disaster.
“Despite the combined sentiment on Wall Street, we imagine the constructive sentiment will proceed on the native bourse, given the rising inflows of international funds, firmer crude palm oil costs which can translate to upside on the plantation sector and respectable efficiency within the banking sector’s outcomes,” stated Malacca Securities Research in a report.
However, the analysis agency stated upside could possibly be capped as a result of geopolitical tensions.
In addition, Bank Negara’s rate of interest determination, which traders are keenly watching, is due on Thursday.
At 9.05am, the benchmark index was up 9.21 factors to 1,617.49. The broader market was barely constructive with 208 gainers in comparison with 182 decliners.
Among the important thing banks main the advance, Maybank rose eight sen to RM8.84 and Hong Leong Bank gained 32 sen to RM20.38.
RHB, which had surged following the discharge of constructive earnings yesterday, retraced 9 sen to RM5.81.
Smaller sector participant Alliance Bank, which additionally recorded constructive earnings yesterday, gained three sen to RM3.46.
Meanwhile, Petronas Chemicals remained on a tear, rising 13 sen to RM9.67 as Brent crude futures continued to push increased.
Press Metal
rode elevated aluminium costs increased, including seven sen to RM6.90.
In plantations, Sime Darby Plantation gained three sen to RM4.94, IOI added 4 sen to RM4.64 and Kuala Lumpur Kepong climbed 38 sen to RM26.38.
Among actives on BUrsa, SMTrack misplaced 0.5 sen to 23.5 sen, Sanichin was flat at three sen and Matang gained 0.5 sen to 11 sen.
