FBM KLCI rebounds in early trade on bargain hunting

TheStar Fri, Jan 21, 2022 09:13am - 2 years View Original


KUALA LUMPUR: Bursa Malaysia rebounded in early trade as investors took to bargain-hunting for oversold counters.

At 9.18am, the FBM KLCI was up 1.87 points to 1,529.50.

Broader market sentiment was cautious, with 298 losers outpacing 159 gainers and 273 counters which traded unchanged.

“Despite the jittery market undertone, we continue to maintain our cautiously optimistic view and expect bargain hunting activities to emerge due to cheap valuations of Malaysian stocks and improving economic landscape in the country, while on the other hand, we remain cautious given the increasing market volatility around the world.

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