M+ Online Market Wrap - 7 Jan 22

FBM KLCI: 1,543.11 pts (+9.75pts, +0.64%)

The FBM KLCI (+0.6%) rebounded, recovering most of its earlier losses as investors stepped in to buy the dip; leading movers include the plantation heavyweights and PBBANK (+4.0 sen). Market breadth turned positive as the advancers outplayed the decliners by 600-to-338 stocks. The plantation counters (+1.75%) outperformed the positive broader market, lifted by SIMEPLT (+15.0 sen), IOICORP (+13.0 sen), and KLK (+26.0 sen) on the back of firmer CPO prices. Meanwhile, the technology sector (-0.2%) was the sole declining sector as investors took cue from Nasdaq’s decline. 

Top 3 Active stocks:
AT (0072): RM0.03 (unch)
MQTECH (0070): RM0.105 (+4.0 sen) 

SMTRACK (0169): RM0.295 (+1.5 sen)

Volume: 4.14 bn (100-day avg vol: 3.81 bn)
Value: RM1.90 bn (100-day avg val: RM2.62 bn)
Market Breadth: ⬆600 ⬇338
Crude palm oil: RM4,988 (+RM3)

Dow Futures: 36,180 pts (+57 pts)

Source: Bloomberg, M+ Online

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