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Market Daily Report: Selective Buying Of Defensive Stocks Lifts Bursa Malaysia Higher At Close

 KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.

Stocks with Momentum: PLB, Analabs, Magni-Tech, Classita, Cypark

Key Takeaway: Five stocks at Bursa Malaysia exhibited negative momentum as of the afternoon close on Tuesday, with varied price and volume movements identified using a proprietary algorithm. Stocks with Negative Momentum: PLB Engineering Bhd (KL ): Price Movement: Up 1 sen (+0.88%) to RM1.15 . Analabs Resources Bhd (KL ): Price Movement: Up 1 sen (+0.54%) to RM1.86 . Magni-Tech Industries Bhd (KL ): Price Movement: Unchanged at RM2.54 . Classita Holdings Bhd (KL ): Price Movement: Unchanged at 6.5 sen . Cypark Resources Bhd (KL ): Price Movement: Unchanged at 90 sen . Insights on Momentum: The negative momentum indicator suggests a potential declining trend in price on increased trading volume . Momentum typically persists for a short period , and price movement could shift in either direction. Evaluation Tips: This list is not a buy or sell recommendation . Investors should review each stock’s fundamental and valuation scores for a better understanding of its potential. For i...

Stock with Negative Momentum on Oct 15, 2024: Eurospan Holdings Bhd

  Eurospan Holdings Bhd (KL) saw a significant rise of 27 sen or 15.61% , closing at RM2 during Bursa Malaysia’s afternoon session on Tuesday. Despite the price increase, the stock was highlighted for having negative momentum , according to a proprietary algorithm that tracks unusually high trading volume and price movements . This list is not a recommendation to buy or sell but provides insight into stocks experiencing short-term momentum. Negative momentum indicates a falling price trend despite the recent price surge. Investors should note that momentum is typically short-lived and may reverse quickly. To further evaluate the stock, readers can consider its fundamental and valuation scores , which offer additional insight into its overall market attractiveness for those looking to capitalize on or avoid the momentum.

Stocks with Momentum on Oct 14, 2024: Hextar Technologies, PLB Engineering, Sin-Kung

  theedgemalaysia.com identified three stocks with negative momentum at Bursa Malaysia by the afternoon close on Monday, based on a proprietary algorithm that tracks trading volume and price movements . The highlighted stocks all exhibited negative momentum , indicating a falling price trend on volume. The stocks with negative momentum were: Hextar Technologies Solutions Bhd (KL ) — up one sen or 0.81% to RM1.24 PLB Engineering Bhd (KL ) — up one sen or 0.86% to RM1.17 Sin-Kung Logistics Bhd (KL ) — down 1.5 sen or 7.14% to 19.5 sen The momentum list helps traders track higher-than-normal volume and price movements , categorized by either positive (+ve) or negative (-ve) momentum. However, it is not a recommendation to buy or sell , as momentum typically persists for only a short period. Each stock comes with a fundamental score and valuation score to help traders assess its attractiveness if they want to capitalize on the momentum.

Bursa Malaysia Afternoon Update: Stocks with Positive and Negative Momentum

  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 showin...

YTL Power and YTL Corp Propel FBM KLCI Higher Amid Positive Market Sentiment

  Bursa Malaysia advanced at midday, driven by gains in YTL Power and YTL Corp as well as stronger performances in Asian markets following overnight gains on Wall Street. At the lunch break, the FBM KLCI rose 4.26 points, or 0.26%, to 1,644.06, after hitting an intra-morning high of 1,649.87. The market breadth was positive, with 532 gainers outpacing 346 losers, while 412 counters remained unchanged. A total turnover of 1.62 billion shares valued at RM1.34 billion was recorded. Dealers noted that Wall Street's gains had buoyed market sentiment, while investors closely assessed the latest U.S. inflation data and its potential impact on the global interest rate outlook. Hong Leong Investment Bank Research indicated that the FBM KLCI is expected to trade sideways ahead of the upcoming Federal Open Market Committee (FOMC) meeting on September 18. The index is expected to find support at 1,613-1,628, with resistance levels at 1,650-1,660-1,690, reflecting a cautious outlook due ...

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: 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. 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: 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. Innoprise Plantations Bhd (KL ) : Shares rose by one sen or 0.68% to RM1.49, yet displayed negative momentum, possibly hintin...

Stocks with Momentum: Optimax, Betamek, Velocity Capital, Oceancash, Kim Loong

  theedgemalaysia.com has identified six stocks with notable momentum on Bursa Malaysia as of the noon market break on Wednesday. Positive Momentum Stocks Optimax Holdings Bhd (KL ) Price Movement: Up four sen or 5.88% at 72 sen Description: Optimax Holdings Bhd specializes in eye specialist services. Betamek Bhd (KL ) Price Movement: Up 3.5 sen or 8.33% at 45 sen Description: Betamek Bhd is involved in the manufacturing and supply of electronic products for the automotive industry. Velocity Capital Partner Bhd (KL ) Price Movement: Down half a sen or 6.67% at seven sen Description: Velocity Capital Partner Bhd operates in the financial and investment sector. Negative Momentum Stocks Oceancash Pacific Bhd (KL ) Price Movement: Up 1.5 sen or 3.53% at 44 sen Description: Oceancash Pacific Bhd produces and distributes felt and nonwoven fabrics primarily for the automotive industry. Kim Loong Resources Bhd (KL ) Price Movement: Up nine sen or 3.90% at RM2.40 Description: Kim ...