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 ...
In the latest trading session on Bursa Malaysia, four stocks demonstrated positive momentum, while four experienced negative momentum at the afternoon close on Wednesday.
Stocks with Positive Momentum:
- Sinaran Advance Group Bhd (KL) — unchanged at 10.5 sen
- Leong Hup International Bhd (KL) — up 1.5 sen or 2% to 76 sen
- Magna Prima Bhd (KL) — down 0.5 sen or 0.7% to 70.5 sen
- Lay Hong Bhd (KL) — down 1 sen or 2.41% to 40.5 sen
Stocks with Negative Momentum:
- AirAsia X Bhd (KL) — down 11 sen or 5.58% to RM1.86
- Hong Leong Capital Bhd (KL) — down 4 sen or 0.88% to RM4.53
- SHL Consolidated Bhd (KL) — down 2 sen or 0.02% to RM2.90
- PLB Engineering Bhd (KL) — up 2 sen or 1.77% to RM1.15
The list of stocks with momentum is generated using a proprietary mathematical algorithm that identifies stocks with a significant build-up in trading volume and price changes. This algorithm helps differentiate between stocks exhibiting positive (+ve) momentum and those showing negative (-ve) momentum.
Please note that this list does not serve as a buy or sell recommendation; it merely indicates which stocks are currently experiencing higher-than-normal volume and price movements. While the share price may fluctuate from this point, the indicators for +ve (suggesting a rising price trend on volume) and -ve (indicating a falling price trend on volume) can provide insights into market activities.
Investors should keep in mind that momentum typically persists for only a short period. Each stock also comes with a fundamental score and valuation score to assist investors in evaluating the attractiveness of these stocks if they choose to capitalize on the current momentum.
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