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us apple developer accounts for sale:Vaccine optimism gives Bursa an early boost

admin2021-02-237

KUALA LUMPUR: Bursa Malaysia rose in early trade as news of the Covid-19 vaccine arriving in Malaysia helped to facilitate optimism over this year's expected recovery.Meanwhile, investor interest in equities was picking up around the globe amid battered-down bond as US President Joe Biden's US$1.9 trillion stimulus plan came closer to fruition.At 9.03am, Malaysia's FBM KLCI was up 0.74 points to 1,585.67.The mild increase was a rebound from the previous week's decline, although the benchmark index was expected to resume falling given the negative momentum."Technically speaking, we reckon Malaysian stocks will likely face renewed selling pressures following last week’s falling momentum."After backing off from the 50-day SMA line initially and crossing under the 25-day SMA line subsequently, the key FBMKLCI could see further weakness ahead, possibly testing our immediate support threshold of 1,550," said Kenanga Research in its weekly outlook.However, there were some buying opportunities on the market as investors latched on to positive news flow.Some counters that received early interest included AirAsia X amid positive developments over its restructuring plan. The budget airline rose one sen to 8.5 sen.Sapura Energy also saw active trading, rising 0.5 sen to 15.5 sen, as the oil and gas counter continued to rally on the elevated Brent crude prices.Kobay Technology, which announced a bonus issue last week, was also in focus, gaining 21 sen to RM4.99.Meanwhile, Dolphin International also continued to pick up gains following its rally last week. The counter added 0.5 sen to 11.5 sen.Among the blue chips, financial counters were mixed with Maybank falling one sen to RM8.02, Public Bank down two sen to RM4.11 and CIMB shedding two sen to RM4.23. Hong Leong Bank rose two sen to RM17.80.Glove stocks were negative with Top Glove losing 12 sen to RM5.93, Hartalega slipping two sen to RM12.04 and Supermax dropping 18 sen RM5.62.
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