Firm Crude Oil and CPO prices should drive the buying interest into the energy and plantation sectors ahead of the earnings season in February, Malacca Securities said in a note
It said that technology stocks may see some rebound following the positive performance on Nasdaq last Friday.
Reviewing Bursa’s performance last Friday, the stockbroking house said that the FBM KLCI notched higher on Friday, continuing its rebound move for the third session on the back of bargain hunting activities.
The stockbroking house said that it believes the key index will be extending its rebound, as US stocks wrapped up the volatile week with strong gains.
“Nevertheless, upside might be capped as investors may trade cautiously ahead of the Chinese New Year holiday and focus on earnings season moving forward,” it said.
Malacca Securities said that on the commodities market, both the CPO and crude oil price rallied, trading above RM5,600 and USD90 per barrel mark respectively
