Bursa remains mildly optimistic


KUALA LUMPUR: Bursa Malaysia maintained a cautious upward momentum ahead of corporate earnings results later this month as investor picked up bargains in hopes of positive surprises.

At 9.05am, the FBM KLCI was up 2.44 points to 1,557.02 amid a continued rally in financial heavyweights.

Maybank rose seven sen to RM8.07, Public Bank gained three sen to RM4.67, CIMB added two sen to RM5.10 and Hong Leong Bank was unchanged at RM20.50.

Telecommunications counters meanwhile, also showed bullish signs as Axiata added one sen to RM3.46 and Digi rose two sen to RM3.59. Maxis however subsided two sen to RM3.79.

"We foresee investors will continue to buy the dip ahead of the earnings season, but overall market sentiment may be tested by concerns over impact of Cukai Makmur, mixed performances on Wall Street overnight, and the upcoming BNM’s interest rate decision," said Malacca Securities Research in a note.

Meanwhile, Serba Dinamik remained on the slide as it lost a further one sen to 6.5 sen on active volume of 40.85 million shares.

The share was the second most heavily traded, topped by CSH which rose 0.5 sen to 12 sen on the back of 59.51 million shares traded.

Technax, down 0.5 sen to 11 sen, rounded up the Top 3 with 17.61 million stocks exchanging hands.

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Bursa Malaysia , FBM KLCI , equities

   

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