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Malacca Securities Sees Market Rebound Amid Lacklustre Corporate Results

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Financial Markets News

Malacca Securities,Market Rebound,Corporate Results

Malacca Securities Research anticipates a market rebound with a positive outlook on technology, gloves, and plantation sectors due to ringgit depreciation and sustained buying interest in plantation stocks.

At the opening bell, the benchmark index was up 2.55 points to 1,596.84, firmly below the 1,600 psychological level after the release of lacklustre corporate results.

The research firm also said it maintained a positive outlook on technology and gloves as the sectors could benefit from the ringgit's depreciation of at least 7.5% since the end of of September. Meanwhile, the research firm said traders will monitor key econmic indicators including ISM PMI data, labour market updates and weekly unemployment claims.

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