Bursa trends sideways ahead of inflation report

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KUALA LUMPUR: Malaysia’s upcoming inflation data will be in focus this morning even as the market continues on a downward bias consolidation band.


Apex Securities Research expects investors to continue taking profit amid the lack of fresh leads, especially as US markets were closed overnight for the Thanksgiving holiday.

“The downturn of Eurozone’s business activity is stoking concern over potential recession, which may trigger further volatility,” it said in a note.

At the start of Friday trading, the benchmark FBM KLCI was up 0.79 points to 1,456.68 as investors stayed to a sideways trading channel.


There was cautious movement among the blue-chips counters, with some selling in MISC down six sen to RM7.13, CelcomDigi dropping two sen to RM4.18 and IHH shedding one sen to RM5.83.

There was some mixed price movement in glove stocks as Top Glove continued to eke higher 0.5 sen to 89 sen while Hartalega slipped five sen to RM2.57 and Careplus dropped 0.5 sen to 31.5 sen.

Genting Malaysia, which announced its results yesterday, jumped six sen to RM2.64, Allianz gained 40 sen to RM18.28 and YTL Power climbed six sen to RM2.36.

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