KUALA LUMPUR, Nov 23 — Bursa Malaysia’s key index extended uptrend in the early session today, boosted by mild buying interest in banking stocks.
“Meanwhile, we noticed that foreign funds have been selling local equities for the past two trading days and this may dampen the sentiment further. Given this setup, market players will be focusing on the ongoing earnings season, while the key index may extend its consolidation mode without any fresh catalyst.
It added that plantation stocks could be riding on the elevated CPO price amid the earnings season following solid results from Ta Ann Holdings Bhd in the third quarter ended September 30, 2021. Of the actives, Iconic Worldwide and JAG were one sen higher at 38.5 sen and 39 sen, respectively, Malaysian Bulk Carrier advanced 1.5 sen to 61.5 sen, YBS International bagged three sen to 61 sen, Kejuruteraan Asastera edged up half-a-sen to 34.5 sen, while Tanco was flat at 27 sen and NWP declined 1.5 sen to 34 sen.