Buying Interest – Banks, Telcos, & Tech Stocks

The Brent crude price surged past the USD90 mark to almost USD92/barrel on reports that OPEC may cut production by an even bigger margin than initially forecast.

Buying Interest – Banks, Telcos, & Tech Stocks
Photo by Yiorgos Ntrahas / Unsplash

On the home front, the FBM KLCI closed on a positive note in line with a much improved performance regionally.

"We believe buying activities to continue on the local bourse today as sentiment is expected to remain positive. As such, we expect the index to hover between the 1,405-1,420 range today with buying interests on the Banks, Telcos, and Technology related stocks," says Rakuten.

The Brent crude price surged past the USD90 mark to almost USD92/barrel on reports that OPEC may cut production by an even bigger margin than initially forecast.

OGSE Industry Can’t Operate in Business-as-usual Mode
It is important for the OGSE industry to build upon its resilience towards external shocks and enhance its capabilities towards adjacent skill-sets such as renewable energy, energy storage and decarbonisation.

FBM KLCI continued with its uptrend, in line with positive performance across the region. The benchmark index gained 0.84% or 11.74 points to close at 1,409.36. Gainers were led by PETDAG, MAXIS and MISC. Market breadth was positive with 568 gainers against 280 losers. Total volume stood at 1.92bn shares valued at RM1.46bn.

Wall Street

Key regional indices ended positively as global sentiment improved. Nikkei 225 and STI rose 2.96% and 1.02% to end at 26,992.21 and 3,138.90 respectively. HSI and SHCOMP were closed for holidays.

Wall Street closed broadly higher on bargain hunting activities as the US 10-year yield remains at the 3.63% level. The DJI Average added 825 points while the Nasdaq ended 361 points higher.

Wall Street closed broadly higher as bargain hunting activities continues. The DJIA surged 2.80% to end at 30,316.32. S&P500 and Nasdaq jumped 3.06% and 3.34% higher to finish at 3,790.93 and 11,176.41 respectively.