Malaysia: Retail buying supporting broad market, DRB-Hicom in focus

  • Aug 08, 2016

Malaysia: Retail buying supporting broad market, DRB-Hicom in focus

Thursday, 4 August 2016 – Blue chips managed to recoup part of their losses early Thursday while the broader market was firmer with retail buying interest seen in lower liners including DRB-Hicom as sentiment was boosted by a rebound in crude oil prices.

At 9.43am, the KLCI was up 4.65 points or 0.28% to 1,653.15. Turnover was 380.22 million shares valued at RM153.16mil. There were 214 gainers, 140 losers and 255 counters unchanged.

Hong Leong Investment Bank (HLIB) Research said the overnight rebound in Dow and oil prices may provide a temporary lift to KLCI on Thursday but any rebound is likely to be short-live amid internal and external uncertainties. Read More?