Investors may see bargain hunting activities in technology stocks following the rebound in Wall Street overnight, Malacca Securities said in a note.
Besides, consumer, gaming, and banking stocks may gain traction amid the reopening of business activities in Malaysia, the stockbroking firm said.
Nevertheless, it believes that bargain hunting activities could kick in as the concerns over inflation may have priced in and traders may focus on the recovery-themed sectors.
The stockbroking firm says that it also believes buying interest may emerge in the technology stocks in line with the rebound in Wall Street. Commodities-wise, the crude oil price hovered around USD113 per barrel mark, while the CPO is trading around.
On the local bourse, Malacca Securities said that the FBM KLCI (-0.4%) charted lower as selling pressure returned to the fore in selected plantation heavyweights yesterday.
It said that the lower liners declined, while the broader market ended mixed with the plantation sector (-2.6%) underperformed following the Indonesian government lifting the ban on palm oil exports.
