Bursa remains upbeat on bullish momentum

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KUALA LUMPUR: The positive momentum could continue for another day in the absence of fresh negative developments, said Apex Securities Research.


The research firm said the market remained upbeat but the there could be profit-taking in the lower liners due to to another holiday-shortened week.

“On the global front, investors will continue to eye onto the US corporate earnings releases. Economic wise, investors will be keeping an eye onto the release of Malaysia’s Producer Price Index data later today.

“We favour oil seven gas stocks in view of the extended gains in oil prices, while plantation stocks are also in better position to leverage onto the improved CPO prices that ticked above RM4,000/MT,” said Apex.

At the start of trading, the benchmark FBM KLCI was up 1.83 points to 1,508.11.

Blue-chip stocks were almost uniformly higher with IHH rising seven sen to RM6.15, CelcomDigi gaining two sen to RM4.27, IOI rising two sen to RM3.99 and Telekom gianing three sen to RM5.96.


YTL Power slid three sen to RM3.94 as investors took some profit off the recent rally.

Meanwhile, recent market debutant KJTS fell five sen to 45 sen, but remains at a healthy premium to its initial public offering price of 27 sen a share.

Top active shares included Mtec unchanged at 39 sen, Berjaya Land up two sen to 47.5 sen and Mintec rising 0.5 sen to 16 sen.

– TheStar

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