BURSA FRIDAY GAINERS: SMEPLT, IOICORP, PBBANK

BURSA FRIDAY GAINERS: SMEPLT,  IOICORP, PBBANK

The FBM KLCI rebounded on Friday session due to bargain hunting activities The benchmark index was
up 9.75 points to close at 1,543.11. Gainers were led by SIMEPLT, IOICORP, PBBANK.

Market breadth was positive with 600 gainers against 338 losers. Total volume stood at 4.14bn shares valued at RM1.90bn.

Key regional indices were ended mixed as investors remain cautious on upcoming data from US labour
market.

The Nikkei 225 down 0.03% to end at 28,487.56 and SHCOMP dropped 0.18% to end at 3,579.54. The HSI gained 1.82% to end at 23,493.38 and STI up 0.66% to end at 3,205.26.

Wall Street ended in red territory on Friday as investors digested payroll data and potential impact on US Federal Reserve’s policy. The Dow Jones Industrial Average fell 0.01% to end at 36,231.66, S&P 500 lost 0.41% to end at 4,677.03 and Nasdaq Composite slumped 0.96% to end at 14,935.90.

HOME FRONT

“We expect the FBM KLCI to face with some selling pressure following a strong closing last Friday. Considering the heightened market volatility, we reckon regional markets to perform similarly which could impact the local bourse’s performance.

“Therefore, we anticipate the index to possibly trend within the 1,535-1,545 range today with some downside bias. As for crude prices, Brent crude price remained elevated hovering close to the US$82/barrel.” says Rakuten.