FBM KLCI to see sideways trading ahead of corporate results


KUALA LUMPUR: Entering the final week of the corporate results period, investors are expected to be on tenterhooks as they await more financial reports to be released from Corporate Malaysia.

The key index opened on Monday with a mild rebound after last Friday's loss, rising 1.27 points to 1,620.67.

Apex Securities Research said it expects the FBM KLCI to trade in a consolidation pattern as investors anticipates fresh catalysts.

"Investors will continue to monitor the flurry of corporate earnings releases on the local front. Similarly, the lower liners may trend sideways with investors takes a break ahead of the result season," it added in a note.

Malacca Securities Research said it believes last week's pullback on the market was healthy following the buying support of the past few weeks.

Subsequently, it expects bargain-hunting activities to emerge amid the release of corporate earnings.

On the blue-chip index, MISC rose 13 sen to RM8.49, PETRONAS Dagangan rose six sen to RM19.96 and PETRONAS Gas gained 14 sen to RM18.48.

YTL Power subsided six sen to RM4.89 while YTL Corp lost four sen to RM3.64.

Meanwhile, Heitech Padu dove 51 sen to RM1.91, RCE Capital shed 23 sen to RM2.88 and Uzma lost seven sen to RM1.14.

Gamuda climbed 16 sen to RM6.21, Notion Vtech gained 12 sen to Rm1.33 and Greatec added 12 sen ot RM5.45.

Of actives, Dnex rose three sen to 48 sen, Sapura Energy wa sunchanged at 4.5 sen and PHB was flat at 0.5 sen.

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