KUALA LUMPUR: The downtrend on the Malaysian stock market continued as investor sentiment remained weak amid the persistently high number of daily Covid-19 infections.
Despite news that some states will be moving into Phase 2 of the National Recovery Plan, the extended MCO implemented in Selangor and Kuala Lumpur continued to weigh heavily on the economic outlook.
Kenanga Research said the oversold condition on the market suggests little immediate downside risk although the descending trend continues to exert negative pressure on the FBM KLCI. On balance, we reckon the FBMKLCI will probably fluctuate – with a marginal negative bias – between our revised first support and resistance thresholds of 1,510 (S1) and 1,550 (R1) for the time being.
Thursday, 01 Jul 2021 10:02 AM MYT
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) recovered 5.50 points or 0.33 per cent to 1,537.68, with buying interest seen among the lower liners, telcos, healthcare, energy and financial counters. Reuters pic
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KUALA LUMPUR, July 1 ― Bursa Malaysia has rebounded from its steep losses yesterday, boosted by bargain hunting on the first day of the second half of the year.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) recovered 5.50 points or 0.33 per cent to 1,537.68, with buying interest seen among the lower liners, telcos, healthcare, energy and financial counters.
KUALA LUMPUR: Blue chips perked up in early trade on Thursday, the start to the third quarter of the year, with CIMB underpinning the FBM KLCI’s early advance but the broader market was mixed.
At 9.03am, the KLCI was up 5.32 points or 0.35% to 1, 537.95. Turnover was 232.70 million shares valued at RM90.78mil. There were 179 gainers, 174 losers and 200 couhters unchanged.
Bloomberg reported Asian stocks were mixed Thursday amid a firmer dollar as traders weighed concerns about the more contagious delta strain of Covid-19 and looked ahead to a U.S. payrolls report.
Shares fluctuated in Japan and Australia and edged lower in South Korea. While the S&P 500 eked out an overnight gain, rounding out one of the best first halves since 1998 for U.S. stocks, the recent spread of the virus variant is tempering some of the optimism around the global recovery.
Axiata, Digi lift Bursa Malaysia at mid-day | Money malaymail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from malaymail.com Daily Mail and Mail on Sunday newspapers.
Thursday, 01 Jul 2021 11:54 AM MYT
At 11.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 6.61 points or 0.4 per cent to 1,537.74. ― Picture by Hari Anggara
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KUALA LUMPUR, July 1 ― Bursa Malaysia remains on an uptrend at mid-morning, with gainers led by Axiata and Digi.
At 11.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 6.61 points or 0.4 per cent to 1,537.74.
The market bellwether opened 0.71 of-a-point higher at 1,533.34 from yesterday’s close of 1,532.63.
On the broader market, gainers outpaced losers 414 to 285, while 388 counters were unchanged, 1,078 untraded and nine others suspended.