Tynkr Lab wrote a post · Aug 6, 2024 14:24

Bursa Malaysia Roars Back with Impressive Midday Rally

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In a surprising turn of events, Bursa Malaysia rebounded strongly from the previous day’s global stock rout, with the key index entering positive territory by midday. Investors appeared to have digested the selling pressure, albeit cautiously, with the specter of margin calls looming later in the week.

Market Movements and Key Statistics

By 12:30 pm, the $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ surged 31.43 points, or 2.04%, to 1,567.91, up from Monday’s close of 1,536.48. The market opened 5.66 points higher at 1,542.14 and fluctuated between 1,529.09 and 1,568.70 throughout the morning session.

On the broader market, gainers outpaced losers 974 to 307, while 353 counters remained unchanged. A total of 3.93 billion units worth RM2.89 billion were traded, highlighting significant investor activity.

Sector Performances and Active Stocks

Sectors that lagged yesterday showed a remarkable comeback today:

• $Bursa Technology (0005I.MY)$, $Bursa Property (0020I.MY)$, and $Bursa Construction (0003I.MY)$: These sectors led the recovery, driven by catalysts such as data center investments.
• $Bursa Finance Services (0010I.MY)$: Attracted attention as investors anticipated foreign fund inflows.

Key Heavyweights:

• $MAYBANK (1155.MY)$: Rose 16 sen to RM10.06.
• $CIMB (1023.MY)$: Climbed 16 sen to RM7.17.
• $PBBANK (1295.MY)$: Added 3 sen to RM4.16.
• $TENAGA (5347.MY)$: Gained 48 sen to RM13.64.
• $IHH (5225.MY)$: Increased 12 sen to RM6.19.

Active Stocks:

• $CEB (5311.MY)$: Dropped 7 sen to 49.5 sen.
• $JIANKUN (8923.MY)$: Fell 1.5 sen to 9.5 sen.
• $MYEG (0138.MY)$ and $WCT (9679.MY)$: Both climbed 5 sen each to 87.5 sen and RM1.03, respectively.
• $PHB (4464.MY)$: Remained flat at 1 sen.

Indices and Market Sentiment

The broader indices also reflected the positive market sentiment:

• $FTSE Bursa Malaysia EMAS Index (.FBMEMAS.MY)$: Jumped 273.55 points to 11,879.45.
• $FTSE Bursa Malaysia Top 100 Index (.FBM100.MY)$: Garnered 266.81 points to 11,539.17.
• $FTSE Bursa Malaysia EMAS Shariah Index (.FBMS.MY)$: Bagged 324.72 points to 11,993.59.
• $FTSE Bursa Malaysia Mid 70 Index (.FBM70.MY)$: Surged 526.88 points to 17,103.78.
• $FTSE Bursa Malaysia ACE Index (.FBMMES.MY)$: Expanded 137.43 points to 5,092.51.

Sector-wise Performance:

• $Bursa Technology (0005I.MY)$: Advanced 2 points to 66.81.
• $Bursa Property (0020I.MY)$: Tickled up 49.52 points to 1,029.66.
• $Bursa Construction (0003I.MY)$: Rose 11.01 points to 270.37.
• $Bursa Plantation (0025I.MY)$: Climbed 97.43 points to 6,986.07.
• $Bursa Industrial Products & Services (0002I.MY)$: Improved 5.21 points to 176.34.
• $Bursa Finance Services (0010I.MY)$: Increased 236.61 points to 17,783.37.

The Bigger Picture

Investors appear to be cautiously optimistic, ready to capitalize on the dip as foreign funds show signs of returning. The market’s ability to rebound reflects underlying resilience, with data centers and the finance sector presenting compelling investment opportunities. The cautious note for potential margin calls later in the week adds a layer of tension, yet the recovery provides a silver lining for strategic investors.

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