Bursa Malaysia asked the company to disclose any corporate developments in the company including those at negotiation level. It must also divulge
KUALA LUMPUR: Maybank Investment Bank Research expects another volatile day on Bursa Malaysia on Tuesday but sentiment should improve after US resolved the shutdown crisis – for now.
“Positive newsflow from Invest Malaysia Kuala Lumpur 2018 Conference should also lend support to the local bourses.
“Technically, we expect KLCI to trade between 1,830 and 1,840 today. Downside supports are 1,812 and 1,796,” it said.
Commenting on Monday’s market performance, Maybank Research said the pullback from 1,840.35 high dragged KLCI to a low of 1,812.78 but the bulls were quick to intervene.
“There is a good chance that this consolidation is at its tail-end. Stochastic has staged a bullish crossover and this could imply that fresh buying interest has emerged.
“The next up leg should push the candles towards 1,840.35 high again. Once this level is taken out, we expect the rally to charge towards 1,867 next. Our bullish tone is intact as long as the 1,812.78 support holds,” it said.
Meanwhile, stock market data showed foreign funds were net buyers on Monday at RM189.87mil while local institutions were net sellers at RM162.89mil and retailers also joined in and were net sellers at RM26.98mil.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
