KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
Positive Momentum:
Paragon Globe Bhd (KL): Shares rose by 2.5 sen or 7.04%, closing at 38 sen. The stock is experiencing a build-up in trading volume and price, indicating positive momentum.
Xin Hwa Holdings Bhd (KL): The stock remained unchanged at 21 sen, but is showing signs of positive momentum due to higher-than-normal trading volume.
Barakah Offshore Petroleum Bhd (KL): Shares remained unchanged at 7.5 sen, yet the trading activity suggests positive momentum.
Negative Momentum:
Mikro MSC Bhd (KL): The stock closed unchanged at 30 sen, but is experiencing negative momentum due to a decline in trading volume and potential price weakening.
Vestland Bhd (KL): Despite rising by 2.5 sen or 4.90% to close at 54 sen, the stock shows signs of negative momentum, indicating potential short-term price pressure.
Malakoff Corp Bhd (KL): Shares fell by 4.5 sen or 4.52%, closing at 95 sen, signaling negative momentum with declining volume and price.
Note: The list of stocks with momentum is generated using a proprietary algorithm that tracks unusual trading volume and price movements. The indicators (+ve for positive momentum and -ve for negative momentum) provide insight into potential short-term price trends, but are not buy or sell recommendations. Momentum trends typically persist for a short period, so investors should consider the fundamental and valuation scores of these stocks before making any decisions.
Comments
Post a Comment