Bursa Malaysia rebounds on bargain hunting

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Bursa Malaysia rebounds on bargain hunting
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NSTbusiness: On the broader market, gainers outpaced losers 253 to 88, with 177 counters unchanged, 1,443 untraded and 21 others suspended.

At 9.12am, the FTSE Bursa Malaysia KLCI gained 0.39 per cent or 6.04 points to reach 1,527.99 from Monday’s close of 1,521.95.On the broader market, gainers outpaced losers 253 to 88, with 177 counters unchanged, 1,443 untraded and 21 others suspended.In a note, Malacca Securities Sdn Bhd said although mild bargain hunting activities have emerged, a mild recovery is expected in the absence of fresh leads.

“On the downside, the 1,515 level is likely to provide a firmer support, followed by the 1,500 level. The resistances, meanwhile, are at 1,535 and 1,550 levels respectively,” it said. Of the actives, AirAsia Group fell six sen to RM1.22, Euro Holdings increased 1.5 sen to 20.5 sen and Binasat was 2.5 sen higher to 41 sen.

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