Traders are likely to put the O&G sectors on the radar given that the energy price is climbing above USD100 per barrel mark again, Malacca Securities said in a note.
It said that investors may favour the banking stocks under the anticipated interest rate hike environment and recovery economic activities moving forward.
The stockbroking firm said that it expects investors to continue the bargain-hunting mode given the extended gains on Wall Street.
Nevertheless, it said that traders should remain cautious given the geopolitical risk between Ukraine and Russia still persists. Commodity-wise, Brent oil price is hovering above USD100 per barrel mark, while the CPO price has declined below RM6,000.
On Bursa’s performance, it said that the FBM KLCI (+1.2%) climbed as rallies gained momentum amid fading concerns over the Russia-Ukraine conflict and investors brushed off the hawkish tone from the US Federal Reserve.
It said that the lower liners ended higher, while the plantation sector was the only laggard on the positive broader market.
