Bargain hunting activities are likely to emerge on the local bourse amid declining Covid-19 confirmed cases, coupled with the rebound on Wall Street overnight, Malacca Securities said in a note.
Meanwhile, the acceptance of the highway deal by Gamuda may trigger some buying interest within the construction and building material segments, the stockbroking firm said.
Commodity-wise, the crude oil trended lower, trading around USD107, while the FCPO settled above RM6,400.
Malacca Securities said that it opines that traders may focus on the construction and building material sectors. Meanwhile, plantation stocks may continue to head higher on the back of firm FCPO price. For the technology sector, it expects some bargain hunting to emerge due to the rebound on Wall Street overnight.
On the global markets, it said that Wall Street advanced as the Dow (+1.5%) climbed on a deluge of corporate earnings releases, led by Johnson & Johnson (+3.0%) that topped expectations. “The European stockmarkets, however, ended mostly lower, while Asia stock markets closed mixed, “it said.
