Buying interest may be seen in the metal-related stocks, as well as the energy sector given the elevated underlying prices on Brent oil price and aluminium, Malacca Securities said in a note.
It said that it believes investors may look into banking and consumer stocks amid the ongoing earnings season as well as riding the recovery theme.
Looking at the day ahead, the stockbroking firm said that it believes the market will trade in heightened volatility and may persist at least for the near term following another selloff on Wall Street overnight, due to fears over Russia’s decision to move troops into eastern Ukraine. “Meanwhile, investors may keep an eye on Malaysia’s inflation rate which will be released tomorrow, “it said
Reviewing Bursa’s performance, Malacca Securities said that the FBM KLCI (-0.4%) extended its losses for the third straight session with more than half of the key index components finished in red.
It said that the lower liners extended their decline, while the broader market closed mostly lower with the exception of energy (+0.3%) and industrial products & services (+0.1%) sector.
