Bursa Malaysia Higher At Midday On Bargain Hunting Activities
Follow Our Official Telegram Channel tynkrlab
In an electrifying turnaround, Bursa Malaysia surged higher by midday, fueled by a wave of bargain hunting after the market experienced significant oversold conditions. Investors seized the opportunity to snap up undervalued stocks, driving the key index to impressive gains.
Market Movements and Key Statistics
By 12:30 pm, the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ had soared 19.32 points, or 1.22%, to 1,593.71 from Tuesday’s close of 1,574.39. The index opened on a positive note, climbing 1.73 points to 1,576.12, and fluctuated between 1,563.77 and 1,596.60 throughout the morning session.
Market Movements and Key Statistics
By 12:30 pm, the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ had soared 19.32 points, or 1.22%, to 1,593.71 from Tuesday’s close of 1,574.39. The index opened on a positive note, climbing 1.73 points to 1,576.12, and fluctuated between 1,563.77 and 1,596.60 throughout the morning session.
The broader market reflected the positive sentiment, with 905 gainers outpacing 281 decliners, while 351 counters remained unchanged, 880 untraded, and eight others suspended. Total turnover was substantial, with 3.15 billion units valued at RM1.98 billion.
Sector Performances and Active Stocks
Sector Performances and Active Stocks
Investors favored selected finance stocks, which were on an upward trend. The glove industry also saw a boost, driven by improved results from Hartalega, which resumed rewarding shareholders with dividends after a two-year hiatus.
Key Heavyweights:
• $MAYBANK (1155.MY)$: Added two sen to RM10.12.
• $PBBANK (1295.MY)$: Rose three sen to RM4.23.
• $TENAGA (5347.MY)$: Gained 50 sen to RM14.14.
• $CIMB (1023.MY)$: Climbed 10 sen to RM7.30.
• $IHH (5225.MY)$: Perked up three sen to RM6.24.
Active Stocks:
• $CEB (5311.MY)$: Widened 3.5 sen to 44 sen.
• $MYEG (0138.MY)$: Edged up 1.5 sen to 90 sen.
• $MQTECH (0070.MY)$: Increased by half-a-sen to 1.5 sen.
• $JIANKUN (8923.MY)$: Eased 1.5 sen to 6.5 sen.
• $SG (5157.MY)$: Remained unchanged at two sen.
Indices and Market Sentiment
All major indices reflected the upbeat market sentiment:
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$: Appreciated by 174.56 points to 12,105.85.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$: Garnered 161.80 points to 11,758.78.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$: Improved by 189.55 points to 12,237.77.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$: Surged 312.31 points to 17,539.46.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$: Expanded 121.52 points to 5,182.38.
Sector-wise Performance:
• $Bursa Energy (0061I.MY)$: Firmed by 22.25 points to 906.06.
• $Bursa Construction (0003I.MY)$: Inched up by 6.58 points to 278.48.
• $Bursa Utilities (0065I.MY)$: Increased by 44.04 points to 1,748.86.
• $Bursa Finance Services (0010I.MY)$: Picked up 122.19 points to 18,016.26.
• $Bursa Industrial Products & Services (0002I.MY)$: Lifted by 2.10 points to 177.96.
• $Bursa Plantation (0025I.MY)$: Dropped by 31.0 points to 7,044.44.
The Bigger Picture
Despite global economic concerns, the market was bolstered by strong bargain hunting, particularly in finance and energy sectors. The improved results from key players in the glove industry provided additional support, signaling renewed investor confidence. However, caution remains due to potential fallout from the Japanese Yen reverse carry trade.
Key Heavyweights:
• $MAYBANK (1155.MY)$: Added two sen to RM10.12.
• $PBBANK (1295.MY)$: Rose three sen to RM4.23.
• $TENAGA (5347.MY)$: Gained 50 sen to RM14.14.
• $CIMB (1023.MY)$: Climbed 10 sen to RM7.30.
• $IHH (5225.MY)$: Perked up three sen to RM6.24.
Active Stocks:
• $CEB (5311.MY)$: Widened 3.5 sen to 44 sen.
• $MYEG (0138.MY)$: Edged up 1.5 sen to 90 sen.
• $MQTECH (0070.MY)$: Increased by half-a-sen to 1.5 sen.
• $JIANKUN (8923.MY)$: Eased 1.5 sen to 6.5 sen.
• $SG (5157.MY)$: Remained unchanged at two sen.
Indices and Market Sentiment
All major indices reflected the upbeat market sentiment:
• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$: Appreciated by 174.56 points to 12,105.85.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$: Garnered 161.80 points to 11,758.78.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$: Improved by 189.55 points to 12,237.77.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$: Surged 312.31 points to 17,539.46.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$: Expanded 121.52 points to 5,182.38.
Sector-wise Performance:
• $Bursa Energy (0061I.MY)$: Firmed by 22.25 points to 906.06.
• $Bursa Construction (0003I.MY)$: Inched up by 6.58 points to 278.48.
• $Bursa Utilities (0065I.MY)$: Increased by 44.04 points to 1,748.86.
• $Bursa Finance Services (0010I.MY)$: Picked up 122.19 points to 18,016.26.
• $Bursa Industrial Products & Services (0002I.MY)$: Lifted by 2.10 points to 177.96.
• $Bursa Plantation (0025I.MY)$: Dropped by 31.0 points to 7,044.44.
The Bigger Picture
Despite global economic concerns, the market was bolstered by strong bargain hunting, particularly in finance and energy sectors. The improved results from key players in the glove industry provided additional support, signaling renewed investor confidence. However, caution remains due to potential fallout from the Japanese Yen reverse carry trade.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Chart the unknown, rule the game!
Trader | Analyst | Hustler
761Followers
38Following
1044Visitors
Follow