KUALA LUMPUR (Bernama): Bursa Malaysia is expected to rebound amid bargain hunting activities from Monday (Aug 14) driven by improved risk appetite in the market post-election. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index is expected to trend sideways with an upside bias within the 1,450 and 1,470 range next week, with immediate resistance at 1,460 and support at 1,440.
"We believe that the trajectory of the FBM KLCI will be significantly influenced by the stability of the domestic political environment. "Nonetheless, we reckon the possibility of bargain-hunting activities to emerge due to the cheap valuations of local equities,” he told Bernama.
Furthermore, Thong said the Brent crude oil is holding above US$85 per barrel due to the collective efforts by Saudi Arabia and Russia in reducing output. "From our perspective, this presents a potential opportunity for short-term activity in the oil and gas stocks,” he added. For the week just-ended, the FBM KLCI moved in a volatile trading pattern with a fair share of influence from the domestic and external factors, including the six state elections, second-quarter corporate earnings announcements, economic data from the United States (US) and China, as well as Moody's credit rating downgrade on US banks.
On a Friday-to-Friday basis, the FBM KLCI rose 11.95 points to end the week at 1,457.16 versus 1,445.21 a week earlier…
Aiyoyo, based on today push, Ekovest is aka sing "I feels like I can fly.", hope tomorrow Taukea Lim will push it till kau-kua ler. ......hehehe......................
The company has been experiencing decline ROE since 2016 and was negative last year. Construction companies tend to be projects driven. There has not been any major project wins for a some time. So how will it deliver double digits returns?
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Kim
4,343 posts
Posted by Kim > 2023-08-09 10:33 | Report Abuse
Ya @tiputipu
Lets fly kikiki