1 week Ago
KUALA LUMPUR: Bursa Malaysia started the week on a positive note with an improvement in market sentiment as US President Donald Trump adopted a calmer tone in handling geopolitical affairs. Continuing its recovery from the previous week, the benchmark FBM KLCI rose 2.63 points to 1,511.
83, which puts the index at levels of trading prior to the drop after Trump announced his "Liberation Day" tariffs. According to Rakuten Trade, the sentiment has been boosted by a solid US corporate earnings. On the local front, the broker said the recent positive performance has been due to the return of foreign buying.
"If this is sustainable, we can expect a new uptrend wave with the 1,530 level as the next target. Notwithstanding this, we expect the index to hover within the 1,510-1,520 range today," it said in its outlook. TA Securities struck a cautious tone as it said there was a lack of direction for the FBM KLCI in the previous week's trading.
"Stocks are likely to extend the current subdued trading with investors holding out for fresh local buying catalysts," it said. On the technical outlook, it said conflicting momentum and trend indicators imply potential consolidation with a downward bias going forward. "However, optimism surrounding progress in U.
S. tariff negotiations with major trading partners such as China, Japan, and South Korea might attract bargain hunters, softening any downward momentum." Leading gainers on Bursa Malaysia included, Vitrox rising nine sen to RM3.
11, AmBank gaining eight sen to RM6.09 and MISC jumping seven sne to RM7.32.
Top active counters were SNS up three sen ot 46.5 sen, Astro rising two sen to 19 sen and Avangaad unchanged at 28 sen..
