Bursa stays optimistic on upcoming corporate results


KUALA LUMPUR: Bursa Malaysia had a positive start on Monday amid expectations that the market would remain range-bound given the ongoing uncertainties in global markets.

At 9.05am, the FBM KLCI was up 4.67 points to 1,553.79. The overall market was positive with 189 gainers compared with 104 decliners.

According to Kenanga research, the FBM KLCI will probably remain range-bound in the near term with most of the technical indicators exhibiting neutral signals.

"For now, investors will likely remain wary in view of the low market visibility after last week’s patchy performance as tracked by the FBMKLCI (+0.3%), the FBM70 Index (+0.9%), the FBM Small Cap Index (+1.7%), the FBM Fledgling Index (-0.1%) and the FBM ACE Index (unchanged)," it said.

Meanwhile, the corporate earnings results scheduled for this week will likely be in focus, as well as the upcoming new listing on the ACE Market by electronics manufacturing solutions provider Cnergenz.

On the bule-chip index, Petronas Chemicals rose seven sen to RM10.06, Press Metal gained six sen to RM5.32 and Hong Leong Bank added 22 sen to RM21.30.

Mayank gained four sen to RM9, Public Bank added two sen to RM4.54, CIMB climbed four sen to RM5.06.

IOI Corp dropped seven sen to RM4.33, Kuala Lumpur Kepong was flat at RM26.90 and Sime Darby Plantation was also unchanged at RM5.18.

Top actives were Sapura Energy up two sen to nine sen, KNM unchanged at 20 sen and MQTech flat at 5.5 sen.

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Bursa Malaysia , FBM KLCI , equities

   

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