Monday, August 16, 2021 FBMKLCI: 1, 505 .11 THIS REPORT IS STRICTLY FOR INTERNAL CIRCULATION ONLY* WWeeeekkllyy SSttrraatteeggyy Market View, News in Brief: Corporate, Economy, and Share Buybacks Kaladher Govindan Tel: +603-2167 9609
[email protected] www.taonline.com.my Market View Market Recovery Pending on the Outcome of PM’s Audience with the King The local blue -chip benchmark FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) staged mild rebound during last week’s Awal Muharram holiday shortened trading, as the relaxation of some restrictions for the fully vaccinated population helped improve economic recovery hopes. Keen bargain hunting interest in key rubber glove stocks lifted the healthcare sector up by 1.5 percent post Awal Muharram, but persistent uncertainties on the domestic politics front and the challenging local Covid situation continued to bog down sentiment. Week-on-week, the FBM KLCI gained 15.31 points, or 1.03 percent to 1,505.11, with gains in Hartalega (+50sen), Press Metal Holdings (+12sen), KLK (+90sen) and Maybank (+7sen) offsetting falls in Sime Darby (-3sen) and Petronas Chemicals (-3sen). Average daily traded volume and value last week slowed to 3.82 billion shares and RM2.41 billion, respectively, compared to the 4.04 billion shares and RM2.51 billion average the previous week, as trading participation dwindled with increased uncertainties over the domestic political landscape and challenging Covid situation bogging down trading sentiment. As far as domestic politics is concerned, the plot thickened further on news the Prime Minister (PM) will be meeting the Yang di-Pertuan Agong again today.