Follow Us For The Latest Updates

Follow Us For The Latest Updates

Sustained buying support

The FBM KLCI finished in the positive territory on the back of final hour buying despite cautious sentiment after World Bank revising downwards on Malaysia’s 2021 economic growth projection. Meanwhile, transportation and logistics players were under the limelight amid surging strong result posted by HARBOUR and Baltic Exchange Dry Index. Note that the index climbed near 5,000 amid ongoing shipping constraints and rising global demand. Meanwhile, the energy sector staged a pullback in tandem with declined crude oil price, but CPO rebounded and may retest the RM4,500.
market pulse

Share:

Share on facebook
Share on twitter
Share on linkedin
Share on telegram

More Posts

macquarie structured warrants 20200914

MYEG call warrants posted moderate gains

The HSI October futures had a choppy start last week with a 1.8% gain on Monday followed by a 1.4% loss on Tuesday. However, the futures saw strong buying interest after the Hong Kong market resumed trading on Friday, finishing the week on a positive note at 25,318 points, up 2.0% w-o-w.

technical focus

Technical Focus – HEXTAR

Over 500 products exported to countries like Vietnam, Hong Kong, the Philippines, Cambodia and Singapore through established distributors, hypermarkets, supermarkets and dealer network. Acquisition of Chempro Group and Noble group comes with a collective profit guarantee of an aggregate of RM81.0m over 3 years, while impending acquisition of ENRA Kimia Sdn Bhd will strengthen bottomline. Entered into a consortium agreement with Arcadia Acres and Ihsan Equity for the application a digital banking licence. Technically, traders may anticipate for a potential flag-formation breakout above RM1.42 to target the next resistances at RM1.50-1.55 with long term target at RM1.65.

market pulse

Heading back onto 1,600

The FBM KLCI advanced on Friday in tandem with the regional peers following the
positive cues from Wall Street lifted by optimism in the corporate earning seasons
as well as the improved labour data. We expect buying momentum to persist on
the local front following a streak of buying interest from foreign funds. Meanwhile,
the relaxation in SOPs and the movement of Klang Valley, Melaka and five other
states into the next phase of NRP would continue to drive the recovery theme
stocks. Meanwhile, both the CPO and crude oil prices rose; the latter is trading
above the USD85 per barrel mark at the time of writing.

market pulse

Still eyeing 1,600

The FBM KLCI took a breather following a seven-day winning streak, as the key
index retreated from the 1,600 psychological level on the back of profit taking
activities. However, tracking the strong gains from Wall Street overnight, we expect
local equities to gain momentum and investors could focus on the upcoming
Budget 2022 beneficiaries, which we anticipate some goodies to be revealed for
construction, telecommunication, and solar sectors. Commodities wise, the CPO
price declined after a surge in the previous session, while the crude oil price
rebounded above the USD84 per barrel mark.

sustained-buying-support-m-online