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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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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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