Bursa Malaysia Ends Marginally Higher Driven by Utility Gains
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Market Overview:
Bursa Malaysia closed marginally higher with the $FTSE Bursa Malaysia KLCI Index(.KLSE.MY$ rising 1.43 points to 1,616.75, driven by gains in utility stocks and tempered by profit-taking in telecommunication heavyweights.
Bursa Malaysia closed marginally higher with the $FTSE Bursa Malaysia KLCI Index(.KLSE.MY$ rising 1.43 points to 1,616.75, driven by gains in utility stocks and tempered by profit-taking in telecommunication heavyweights.
Key Stock Performances:
• $MAYBANK(1155.MY$: Up 8 sen to RM10.10
• $TENAGA(5347.MY$: Up 6 sen to RM14.20
• $CIMB(1023.MY$: Up 4 sen to RM7.00
• $PBBANK(1295.MY$and $IHH(5225.MY$: Remained flat
Significant Sector Movements:
• Financial Services: Up 47.73 points to 17,660.63
• Energy: Up 1.48 points to 989.56
• Industrial Products and Services: Slightly up by 0.08 points to 199.19
• Plantation: Down 12.12 points to 7,013.91
Market Indicators:
• Turnover decreased to 4.93 billion units worth RM3.79 billion.
• Gainers led decliners, 586 to 558, with 495 counters unchanged.
Analysis and Forecast:
The market is expected to stabilize above the 1,600 level, supported by improving sentiment and the return of foreign funds. Lower volatility is anticipated with the US markets closed for Independence Day. Investors should monitor Eurozone retail sales and US unemployment data to gauge economic health. A cautious but optimistic outlook is advised, focusing on financial services and energy sectors for potential gains while maintaining portfolio diversification to mitigate risks.
• $MAYBANK(1155.MY$: Up 8 sen to RM10.10
• $TENAGA(5347.MY$: Up 6 sen to RM14.20
• $CIMB(1023.MY$: Up 4 sen to RM7.00
• $PBBANK(1295.MY$and $IHH(5225.MY$: Remained flat
Significant Sector Movements:
• Financial Services: Up 47.73 points to 17,660.63
• Energy: Up 1.48 points to 989.56
• Industrial Products and Services: Slightly up by 0.08 points to 199.19
• Plantation: Down 12.12 points to 7,013.91
Market Indicators:
• Turnover decreased to 4.93 billion units worth RM3.79 billion.
• Gainers led decliners, 586 to 558, with 495 counters unchanged.
Analysis and Forecast:
The market is expected to stabilize above the 1,600 level, supported by improving sentiment and the return of foreign funds. Lower volatility is anticipated with the US markets closed for Independence Day. Investors should monitor Eurozone retail sales and US unemployment data to gauge economic health. A cautious but optimistic outlook is advised, focusing on financial services and energy sectors for potential gains while maintaining portfolio diversification to mitigate risks.
$WPRTS(5246.MY$ $UTDPLT(2089.MY$ $GREATEC(0208.MY$ $SKBSHUT(7115.MY$ $PANAMY(3719.MY$ $BIPORT(5032.MY$ $PIE(7095.MY$ $LGMS(0249.MY$ $NATGATE(0270.MY$ $KOTRA(0002.MY$ $SAM(9822.MY$ $HARTA(5168.MY$ $KOSSAN(7153.MY$ $SENFONG(5308.MY$ $ARKA(7218.MY$ $GCB(5102.MY$ $CPETECH(5317.MY$ $TIMECOM(5031.MY$ $ENGTEX(5056.MY$ $ULICORP(7133.MY$ $JTGROUP(0292.MY$ $TENAGA(5347.MY$ $VSTECS(5162.MY$ $NGGB(7241.MY$ $TAANN(5012.MY$ $TOPGLOV(7113.MY$ $MFCB(3069.MY$
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