Stocks: Upward Market Trend To Continue

Among stocks to watch are Gadang Holdings Bhd as it is undertaking subcontract works for a total sum of RM680 million in the Rapid Transit System Link project connecting Johor Bahru to Singapore.

Stocks: Upward Market Trend To Continue

Wall Street closed higher as traders believe in a stronger corporate earnings report and that the market may have found its bottom.

As such, the DJI Average jumped 754 points higher while the Nasdaq gained 353 points as the US 10-year yield inched higher to almost 3.03%, says Rakuten Trade.

Back home, movements of the FBM KLCI had been rather volatile as its ended marginally lower.

The FBM KLCI was flat after shedding 0.78 points to 1428.76 points. Following the gains in Wall Street, the FBM KLCI could climb towards its resistance of 1460 points.

"However, we reckon buying activities to emerge on the back of the strong showing from the US and expect the index to trend within the 1,425-1,440 today.

"Meanwhile, Brent crude continue with its climb to close at US$107.30/barrel as demand remains unrelenting," says the analyst firm.

Market: Fragile Sentiments To Remain
Wall Street fell sharply into the final hour of trading Monday following news Apple plans to slow hiring and curb spending next year to prepare for a possible recession.

Stocks to watch

Among stocks to watch are Gadang Holdings Bhd as it is undertaking subcontract works for a total sum of RM680 million in the Rapid Transit System Link project connecting Johor Bahru to Singapore.

Hibiscus Petroleum Bhd said it is committed to resolving the state sales tax issues with the Sabah authorities.

MSM Malaysia Holdings Bhd plans to establish strategic warehouses in East Malaysia with sufficient buffer stockpile.

Jade Marvel Group Bhd has proposed to diversify its business to mine iron ores, dolomite, sand and other minerals.

Tambun Indah Land Bhd has declared a first and final dividend of 5.9 sen per share for FY21.

Green Packet founder receives bankruptcy notices for failure to settle RM30.66 mil sum.