Bursa starts strong as rally poised to continue

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KUALA LUMPUR: The rally on Bursa Malaysia still has legs as the bullish sentiment in global markets showed no signs of ebbing.


“The lower liners may also fare better, taking cue from the positive developments on Wall Street overnight,” said Apex Securities Research in a ote.

THe researh firm added that investors will be keeping a close tab on US existing home sales to gauge the health of the property market.

It said the plantations sector is also expected to see a pick up in trading interest given crude palm oil prices staging a recovery to RM3,800 per tonne.

“Likewise, the higher crude oil prices which rallied for the fifth straight session presents trading opportunities within oil and gas stocks,” it said.

At the start of trading, the benchmark FBM KLCI was up 0.76 points to 1,466.63 as investors kept the bullish interest going for an eight straight day.


Genting was among the early gainers, rising three sen to RM4.67 while Genting Malaysia gained four sen to RM4.68.

CIMB rose three sen to RM5.99, Hong Leong Bank climbed 16 sen to RM19.64, Maybank gained two sen to RM9 and Public Bank added two sen to RM4.36.

Meanwhile, other early risers inclided HIbiscus Petroleum adding three sen to RM2.54, Tomei adding two sen to RM1.22 and Frontken gaining three sen to RM3.14.

Jati Tinggi was the most actively traded share, rallying four sen to 31 sen on the back of 26.82 million shares. This was followed by AT up 0.5 sen to one sen and Top Glove dropping one sen to 93 sen.

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