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Bursa rally continues while tech stocks pare gains
2022-04-21 00:00:00.0     星报-商业     原网页

       

       KUALA LUMPUR: Heavyweights on Bursa Malaysia continued to push higher amid a returning investor interest although the overnight sell-off on the Nasdaq sent technology stocks lower.

       Overnight, the Nasdaq lost 1.2% as Netflix dragged the tech-heavy index lower following disappointing earnings results.

       At 9.05am, the FBM KLCI was up 4.56 points to 1,598.31. The market breadth was positive with 177 gainers compared to 119 decliners.

       "We believe the selected rebound on our local front, specifically the technology stocks are likely to give back the recent gains on the back of the weaker Nasdaq performance.

       "Nevertheless, traders could monitor few other catalysts like reopening travel borders theme, elevated commodity prices and recovering construction activities for trading purposes," said Malacca Securities Research in a note.

       Most counters were higher on the blue-chip index including Maybank up two sen to RM8.82, MISC climbing 10 sen to RM7.90, IOI gaining six sen to RM4.39, and CIMB adding five sen to RM5.14.

       On the technology index however, D&O Green Technologies slipped four sen to RM4.12, Hong Seng Consolidated fell five sne to RM2.67 and Inari Amertron shed three sen to RM2.88.

       Top actives on the the market were Vizione up one sen to 11 sen, Fitters down one sen to 13 sen and Tanco up three sen to 35 sen.

       


标签:综合
关键词: Nasdaq     technology stocks     breadth     Bursa Malaysia     tech-heavy    
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