Bargain-hunting expected to occur, especially in the utilities sector.
KUALA LUMPUR: Bursa Malaysia extended yesterday’s losses to open marginally lower today, in line with Wall Street’s mixed performance and the US manufacturing purchasing managers’ index data which showed that the sector remained in contraction mode, a dealer said.
Back home, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng reckoned a swift rebound in the local bourse is necessary to evade a prolonged consolidation phase. Of the actives, Ekovest, Tanco, Meta Bright and KNM were unchanged at 51.5 sen, 55 sen, 24 sen and 14 sen, respectively, while Hextar Industries added 0.5 sen to 40 sen.
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