Trading interest is expected to return within the oil & gas stocks amid firmer Brent crude oil price. Meanwhile, investors may continue to favour plantation stocks ahead of the earnings season, Malacca Securities said in a note.
Given that Nasdaq performed a rebound, local technology stocks may follow suit in this environment, the stockbroking firm said.
On the local bourse, it said that the FBM KLCI ended on a flat note as the majority of its intraday gains were interrupted by quick profit-taking activities in Petronas-related and gloves heavyweights yesterday. The lower liners advanced, while the healthcare (-0.9%) and property (-0.1%) sectors underperformed the positive broader market.
On the global markets, Malacca Securities said that Wall Street rebounded as the Dow (+1.0%) recovered all its previous session losses ahead of the Good Friday public holiday, lifted by the rebound in technology stocks, while the 1Q22 earnings season kicked off.
It said that both the European and Asia stock markets ended mostly higher. Commodity-wise, both the Brent crude oil and CPO prices trended higher, hovering around USD108 and RM6,100 respectively.
