Investors may focus on the increasing prospect of an early general election in Malaysia and put construction stocks on the radar following the anticipation of an early election in Malaysia towards 2H22, Malacca Securities said in a note.
O&G counters may extend their gains as crude oil prices remained firm above the USD100 per barrel mark. Commodity-wise, oil price traded above USD100 per barrel amid the unresolved Russia-Ukraine tension, while the CPO price hovered around RM5,600.
The stockbroking firm said that Wall Street continues to ascend as the Dow (+0.8%) advanced after Russia avoided default by making coupon payments on dollar-denominated sovereign bonds.
It said that the European markets also turned upbeat after recovering from their intraday lows, while the Asia stockmarkets ended mostly positive.
On the performance of Bursa, it said that the FBM KLCI finished almost unchanged as investors stayed cautious prior to the Biden-Xi call to discuss about the conflict between Ukraine and Russia. It said that Wall Street advanced on Friday after the talk ended without big surprises, it expects optimism to return on the regional bourses.
