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Market Daily Report: Bursa Malaysia Ends Higher In Line With Most Regional Markets

KUALA LUMPUR, Sept 20 (Bernama) -- Bursa Malaysia ended higher on Friday in line with most Asian markets, mirroring gains from Wall Street, where investors welcomed the US Federal Reserve's substantial interest rate cut. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.17 points, or 0.19 per cent, to 1,668.82 at the close from Thursday's close of 1,665.65. It opened 5.03 points higher at 1,670.68, trading between 1,668.48 and 1,674.04 throughout the session. In the broader market, gainers outpaced decliners 732 to 468, while 465 counters were unchanged, 850 untraded and 32 suspended. Turnover swelled to 4.19 billion units worth RM5.97 billion, from Thursday's 3.99 billion units worth RM4.08 billion. UOB Kay Hian Wealth Advisors head of investment research, Mohd Sedek Jantan, noted the FBM KLCI's gains were led by utilities, logistics, and banking stocks, reflecting improved market sentiment. Additiona
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Pesona Metro Highlighted as a Stock with Negative Momentum


On Monday, theedgemalaysia.com identified Pesona Metro Holdings Bhd (KL) as a stock with negative momentum during the noon market break. Despite a slight increase of half a sen or 2% to 26 sen, the stock has shown signs of a downward trend in trading volume and price.

Key Takeaways:

  1. Negative Momentum Indicator: Pesona Metro was flagged as having negative momentum, indicating a potential declining price trend on higher-than-normal trading volume. This suggests that the stock may be facing selling pressure despite the minor price increase.

  2. Momentum Algorithm: The identification of negative momentum is based on a proprietary mathematical algorithm that tracks stocks exhibiting unusual volume and price movements. The algorithm distinguishes between positive (+ve) and negative (-ve) momentum to give investors insight into market trends.

  3. Cautionary Note: It's important to note that the momentum indicator is not a buy or sell recommendation. While the stock's price may rise or fall, the momentum indicator provides a short-term perspective on market trends. Investors should consider the accompanying fundamental and valuation scores before making any decisions.

For further analysis and detailed financial information on Pesona Metro and other stocks, readers are encouraged to subscribe to AbsolutelyStocks.

This alert serves as a tool for investors to gauge market sentiment and make informed decisions based on short-term momentum indicators.

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