Investors take advantage of the volatile situation in Malaysia

Bursa Malaysia was slightly higher in early trading today as cautious market sentiment led to buying on the dips after yesterday’s sell-off.

At 9am, the benchmark FTSE Damarong Composite Index rose 1.34 points to 1,449.3 from 1,447.96 yesterday, with the market leader opening 1.24 points lower at 1,446.72.

However, in the broader market, declining stocks led advancing stocks by 134 to 119, while 164 stocks were flat, 1,881 stocks were not traded, and 14 stocks were suspended. Turnover was 19.127 million units worth RM66.35 million. A report today said, “Once the government is formed, traders should deploy a ‘buy beforehand and sell on news’ strategy.” Separately, the index is expected to fluctuate between 1,430 points and 1,450 points today ahead of the formation of the new government today.

Also, Bank Negara rose 4 sen to RM8.57, Petronas Chemicals rose 6 sen to RM8.70, CIMB rose 2 sen to RM5.53, while IHH Healthcare gained 5 sen to RM6.10.

Public Bank and Hong Leong Bank were flat at RM4.33 and RM20.62 respectively, but NNN gave up 3 sen to RM8.38.

Among active stocks, Advance Synergy and Dagang Nexchange rose 2 sen to 18 sen and 59 sen respectively, Malayan United gained 0.5 sen to 10.5 sen and Infoline rose 4 sen to 54 sen.

On the index board, the FBM Emas Index rose 11.74 points to 10,286, the FBM Emas Islam Index gained 4.52 points to 10,412.02, the FBMT 100 Index rose 11.41 points to 10,016.41, the FBM 70 Index rose 22.64 points to 12,189.59, and the FBM ACE fell 20.59 points to 4,931.59. The FBM ACE fell 20.59 points to 4,931.91.

In terms of sectors, the Financial Services Index rose 31.71 points to 16,239.49, the Industrial Goods and Services Index gained 0.57 points to 179.49, the Plantations Index fell 2.79 points to 6,836.38, and the Energy Index dropped 0.74 points to 722.63. So investors should take advantage of the opportunity to see the right time.

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