Investors may keep an eye on metal-related companies amid higher iron ore and aluminium prices, Malacca Securities said in a note.
It said that it also expects traders to focus on plantation, oil, gas, and gold-related sectors given the underlying commodity trends remain intact. “Meanwhile, the technology sector may see some pullback following the slump in Nasdaq overnight,” it said.
Reviewing Bursa’s performance, the stockbroking firm said that FBM KLCI notched higher amidst the mixed regional markets, mainly propelled by the banking and plantation heavyweights.
It said that it believes the commodity-related sectors will remain buoyant with the firm crude palm oil and crude oil, which are trading around RM6,054 and USD96.84, respectively.
On the technology sector, Malacca Securities said that the rebound could be short-lived tracking another sell-down in Nasdaq overnight. Besides, gold price continues to charge higher, trading above USD1,900 per ounce on the back of the unsettled geopolitical tensions between Russia and Ukraine.
