Oil & Gas And Plantation Well Supported: Malacca Securities

Malacca Securities Sdn Bhd expects the oil & gas and plantation to be well supported by the firm commodities prices.

It said that besides, investors may see buying interest in consumer and recovery theme sectors as the Government is drafting the NRP 2.0.

Reviewing the performance of the stock-market, it said that the FBM KLCI extended its winning streak to the third straight session despite cautious sentiment across the regional bourses, propelled by selected banking heavyweights.

The stockbroking house said that while investors may be bracing for interest rate hikes and uncertainties in the new Covid-19 variant, it expects to see some recovery on the local bourse as sentiment may be lifted by the upcoming National Recovery Plan 2.0.

It said that the overnight rallies on Wall Street could spill over to the local front. Commodities wise, the crude oil prices jumped to close above the USD83 per barrel mark, while the CPO price remained above RM5,00

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