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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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Stocks with Momentum: Barakah, Bertam, Hong Leong Financial, Innoprise

 

Four stocks were highlighted for their momentum at Bursa Malaysia’s noon market break. Two of these stocks exhibited positive momentum, while the other two showed negative momentum, according to a proprietary algorithm from theedgemalaysia.com.

Stocks with Positive Momentum:

  1. Barakah Offshore Petroleum Bhd (KL): Shares rose by one sen or 14.29%, trading at eight sen. This suggests a rising price trend backed by higher trading volume.

  2. Bertam Alliance Bhd (KL): Despite being down by half a sen or 4.17%, trading at 11.50 sen, it still showed positive momentum, indicating potential short-term buying interest.

Stocks with Negative Momentum:

  1. Hong Leong Financial Group Bhd (KL): Shares increased by 14 sen or 0.76% to RM18.60. Despite the price increase, the stock is categorized under negative momentum, suggesting a potential decline following the price rise.

  2. Innoprise Plantations Bhd (KL): Shares rose by one sen or 0.68% to RM1.49, yet displayed negative momentum, possibly hinting at a short-term downturn.

The list is generated using a mathematical algorithm highlighting stocks with unusual trading volume and price movements. While it does not constitute a buy or sell recommendation, it provides a snapshot of market interest and potential short-term opportunities based on current trends.

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