KUALA LUMPUR, Malaysia (July 1): The Malaysian stock exchange has recovered from yesterday’s heavy losses, helped by bargain shopping on the first day of the second half of the year (2H21). At 9:05 a.m., the benchmark FBM KLCI had rebounded 5.05 points, or 0.33 percent, to 1,537.68, with lower liners, telecommunications, healthcare, energy, and financial stocks all seeing buying activity.
From yesterday’s close of 1,532.63, the market bellwether opened 0.71 of a point higher at 1,533.34.
Losers outnumbered gainers 175 to 155 on the broader market, with 208 counters unchanged, 1,627 untraded, and nine others suspended.
The company sold 206.6 million units at RM81.3 million.
Malacca Securities said in a note today that it anticipates bargain-hunting activity on the local exchange to develop in response to reports that Parliament may resume by August.
“Oil prices increased on reports of decreased US stocks,” it said, adding that investors may be watching today’s Organization of Petroleum Exporting Countries and their Allies (OPEC+) meeting for a decision on the next phase of production strategy.
According to the research firm, the healthcare sector may see some bargain-hunting activity emerge despite the unabated Covid-19 daily tally following yesterday’s massive selldown.
Heavyweights CIMB Group Holdings Bhd and Public Bank Bhd both jumped five sen to RM4.66, while Maxis Bhd, Sime Darby Plantation Bhd, and Genting Malaysia Bhd (GenM) all gained four sen to RM4.43, RM4.02, and RM2.81, respectively.
IOI Corp Bhd was down six sen to RM3.70, Hap Seng Consolidated Bhd was down nine sen to RM7.71, RHB Bank Bhd was down two sen to RM5.38, and Petronas Dagangan Bhd (PetDag) was down eight sen to RM18.52.
Serba Dinamik Holdings Bhd fell half a sen to 32.5 sen, PUC Bhd rose half a sen to 17.5 sen, and Sedania Innovator Bhd rose seven sen to 79.5 sen among the actives.
The FBM Emas Index gained 29.35 points to 11,185.57, the FBMT 100 Index gained 29.92 points to 10,905.01, and the FBM Emas Shariah Index gained 26.61 points to 12,204.89 on the index board.
The FBM ACE increased by 75.02 points to 7,024.37, while the FBM 70 increased by 16.65 points to 14,495.64.
The Financial Services Index rose 44.33 points to 15,142.64, the Industrial Products and Services Index improved 0.02 points to 186.32, and the Plantation Index fell 12.14 points to 6,389.34./n
