"Amidst expectations of improvement in private consumption, we favour initiating positions in cyclical growth stories with greater exposure to domestic demand recovery, while remaining cautious on global cyclicals that are vaccine dependent," said RHB analyst Shekhar Jaiswal in a note on Monday.
Advancers outnumbered decliners 265 to 180 for the day, with 2.17 billion securities worth S$1.31 billion changing hands.South Korean shares dipped on Monday amid a spike in cases, with the benchmark Kospi ending 0.28 per cent or 7.86 points down at 2,762.20.
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