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Modest Gains for Bursa Malaysia at Midday as Investors Await US Jobs Data
Bursa Malaysia showed mixed performance at midday, with $FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ rising slightly by 2.79 points, or 0.17%, to 1,603.60. The index rebounded from the psychological 1,600-point support level but traded within a narrow range. Turnover was muted, with 1.48 billion shares valued at RM1.09 billion. Decliners outpaced gainers, with 491 losers against 324 gainers, while 523 counters remained unchanged.
Heavyweights See Modest Gains
Select blue-chip stocks provided some support to the index. $TENAGA (5347.MY)$ added 12 sen to RM14.24, $MISC (3816.MY)$ rose 7 sen to RM7.22, and $YTLPOWR (6742.MY)$ climbed 5 sen to RM4.25. Banking stocks also rebounded, with $MAYBANK (1155.MY)$ gaining 2 sen to RM10.10, $CIMB (1023.MY)$ up 4 sen to RM8.15, and $HLBANK (5819.MY)$ increasing 8 sen to RM20.32. However, sentiment remained cautious as investors awaited the release of key US jobs data.
Sectoral Performance
Sectoral indices reflected mixed performances. $Bursa Finance Services (0010I.MY)$ advanced 59.30 points to 18,913.08, supported by gains in banking stocks. However, $Bursa Plantation (0025I.MY)$ fell 26.62 points to 7,506.74, and $Bursa Energy (0061I.MY)$ slipped 1.98 points to 833.34, reflecting broader market uncertainties. $Bursa Industrial Products & Services (0002I.MY)$ eased 0.06 points to 170.56.
Regional Market Sentiment
Asian markets mirrored the cautious mood as investors remained on the sidelines ahead of US Non-Farm Payrolls data. Japan’s $Nikkei 225 (.N225.JP)$ slipped 1.07%, China’s $SSE Composite Index (000001.SH)$ shed 0.39%, and Hong Kong’s $Hang Seng Index (800000.HK)$ dropped 0.47%. Singapore’s $FTSE Singapore Straits Time Index (.STI.SG)$ fell sharply by 1.74%, driven by regional economic uncertainties and inflationary concerns.
Trading Highlights
$VELOCITY (7165.MY)$ and $NATGATE (0270.MY)$ were among the active counters. $VELOCITY (7165.MY)$ increased by 1.5 sen to 8.5 sen, while $NATGATE (0270.MY)$ slid 17 sen to RM2.45. Turnover in lower-liner stocks remained subdued as cautious trading dominated the session. Selective buying interest was seen in beaten-down counters, reflecting strategic positioning by investors.
Market Outlook
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ rebound above 1,600 offers temporary support, but broader market sentiment remains fragile amid global inflation concerns and anticipation of US economic data. Immediate resistance is seen at 1,610, while support remains at 1,590. Investors are advised to adopt a cautious approach as market volatility persists.
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Select blue-chip stocks provided some support to the index. $TENAGA (5347.MY)$ added 12 sen to RM14.24, $MISC (3816.MY)$ rose 7 sen to RM7.22, and $YTLPOWR (6742.MY)$ climbed 5 sen to RM4.25. Banking stocks also rebounded, with $MAYBANK (1155.MY)$ gaining 2 sen to RM10.10, $CIMB (1023.MY)$ up 4 sen to RM8.15, and $HLBANK (5819.MY)$ increasing 8 sen to RM20.32. However, sentiment remained cautious as investors awaited the release of key US jobs data.
Sectoral Performance
Sectoral indices reflected mixed performances. $Bursa Finance Services (0010I.MY)$ advanced 59.30 points to 18,913.08, supported by gains in banking stocks. However, $Bursa Plantation (0025I.MY)$ fell 26.62 points to 7,506.74, and $Bursa Energy (0061I.MY)$ slipped 1.98 points to 833.34, reflecting broader market uncertainties. $Bursa Industrial Products & Services (0002I.MY)$ eased 0.06 points to 170.56.
Regional Market Sentiment
Asian markets mirrored the cautious mood as investors remained on the sidelines ahead of US Non-Farm Payrolls data. Japan’s $Nikkei 225 (.N225.JP)$ slipped 1.07%, China’s $SSE Composite Index (000001.SH)$ shed 0.39%, and Hong Kong’s $Hang Seng Index (800000.HK)$ dropped 0.47%. Singapore’s $FTSE Singapore Straits Time Index (.STI.SG)$ fell sharply by 1.74%, driven by regional economic uncertainties and inflationary concerns.
Trading Highlights
$VELOCITY (7165.MY)$ and $NATGATE (0270.MY)$ were among the active counters. $VELOCITY (7165.MY)$ increased by 1.5 sen to 8.5 sen, while $NATGATE (0270.MY)$ slid 17 sen to RM2.45. Turnover in lower-liner stocks remained subdued as cautious trading dominated the session. Selective buying interest was seen in beaten-down counters, reflecting strategic positioning by investors.
Market Outlook
$FTSE Bursa Malaysia KLCI Index (.KLSE.MY)$ rebound above 1,600 offers temporary support, but broader market sentiment remains fragile amid global inflation concerns and anticipation of US economic data. Immediate resistance is seen at 1,610, while support remains at 1,590. Investors are advised to adopt a cautious approach as market volatility persists.
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