Bursa Malaysia Rebounds on Bargain-Hunting and Positive Market Sentiment
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After three days of losses, Bursa Malaysia bounced back with a bang today, driven by bargain-hunting and positive regional market vibes. $FTSE Bursa Malaysia KLCI Index(.KLSE.MY$ surged 11.68 points, or 0.72%, to close at 1,624.56, riding on optimism about potential US Federal Reserve rate cuts in September.
Key Movers and Shakers
• Heavyweights: $MAYBANK(1155.MY$ added 6 sen to RM10.20, $PBBANK(1295.MY$ edged up 3 sen to RM4.24, $TENAGA(5347.MY$ perked up 8 sen to RM14.10, $CIMB(1023.MY$ went up 7 sen to RM7.24, and $IHH(5225.MY$ inched up 1 sen to RM6.27.
• Actives: $VELOCITY(7165.MY$ increased by 2 sen to 8 sen, $MUIIND(3891.MY$ rose by 1 sen to 10.5 sen. However, $EKOVEST(8877.MY$ shed 2 sen to 44.5 sen, while $OCR(7071.MY$ and $VELESTO(5243.MY$ slid by 1 sen each to 8.5 sen and 22.5 sen, respectively.
Sector Performance
• $Bursa Finance Services(0010I.MY$: Soared by 115.95 points.
• $Bursa Plantation(0025I.MY$: Climbed by 32.24 points.
• $Bursa Industrial Products & Services(0002I.MY$: Increased by 1.01 points.
• Energy: Slightly down by 0.23 points.
Market Sentiment
The broader market saw gainers thumping losers, with 626 gainers against 455 losers. Turnover rose to 4.23 billion units worth RM2.89 billion, up from Friday’s 3.83 billion units worth RM2.70 billion. Investors are buoyed by optimism about upcoming policy meetings and potential economic stimulus measures in the US and China.
Insights
Today’s rally is a positive sign for Bursa Malaysia, reflecting strong buying interest and a renewed sense of optimism. Keep an eye on global economic events and sector-specific trends for more opportunities.
• Heavyweights: $MAYBANK(1155.MY$ added 6 sen to RM10.20, $PBBANK(1295.MY$ edged up 3 sen to RM4.24, $TENAGA(5347.MY$ perked up 8 sen to RM14.10, $CIMB(1023.MY$ went up 7 sen to RM7.24, and $IHH(5225.MY$ inched up 1 sen to RM6.27.
• Actives: $VELOCITY(7165.MY$ increased by 2 sen to 8 sen, $MUIIND(3891.MY$ rose by 1 sen to 10.5 sen. However, $EKOVEST(8877.MY$ shed 2 sen to 44.5 sen, while $OCR(7071.MY$ and $VELESTO(5243.MY$ slid by 1 sen each to 8.5 sen and 22.5 sen, respectively.
Sector Performance
• $Bursa Finance Services(0010I.MY$: Soared by 115.95 points.
• $Bursa Plantation(0025I.MY$: Climbed by 32.24 points.
• $Bursa Industrial Products & Services(0002I.MY$: Increased by 1.01 points.
• Energy: Slightly down by 0.23 points.
Market Sentiment
The broader market saw gainers thumping losers, with 626 gainers against 455 losers. Turnover rose to 4.23 billion units worth RM2.89 billion, up from Friday’s 3.83 billion units worth RM2.70 billion. Investors are buoyed by optimism about upcoming policy meetings and potential economic stimulus measures in the US and China.
Insights
Today’s rally is a positive sign for Bursa Malaysia, reflecting strong buying interest and a renewed sense of optimism. Keep an eye on global economic events and sector-specific trends for more opportunities.
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