Bargain Hunting Activities Expected
Despite a mixed regional performance yesterday, we reckon the FBM KLCI to see sporadic bargain hunting activities today following the selling pressure since last Tuesday
Bursa Malaysia
Stocks: Trading on Bursa To Remain Tepid
Plantation stocks may be back in favour today as the crude palm oil had rebounded to almost RM4,000/tonne or a 2-week high
This is why foreign funds are shying away from Bursa?
Bursa Malaysia is currently trading at a discount to its historical average, owing in part to net outflows from foreign and domestic institutions pushing feeder funds, which have drained liquidity from the local market.
Profit Taking Activities Continued On Bursa
We reckon buying activities to emerge anytime soon as recent sell-down seems unjustified as the latest easing of Covid restrictions in Shanghai and Hangzhou may continue to support regional markets - Rakuten
Sunview Debuts On ACE Market
BUY with a TP of RM0.50 based on 15x PER (50% discount to Bursa Malaysia Technology Index 5 years average given its smaller market capitalisation ) over FY3/23 EPS.
FBMKLCI Declined Further Testing The Psychological Support of 1,400
FBM KLCI closed lower due to weak market sentiment regionally. The benchmark index lost 0.64% or 8.98 points to 1,401.89 with losers led by PPB, SIMEPLT and DIALOG.
Local Market Trending Higher
Yesterday, FBM KLCI ended lower due to lack of buying interests. The benchmark index lost 0.36% or 5.35 points to close at 1,492.33 with losers led by HARTA, PETGAS and HLBANK.