28/12/2022 (New Straits Times), Kuala Lumpur - There should be some rebound for banking stocks on Bursa Malaysia today after suffering a sell-down yesterday, Rakuten Trade said.

Plantation stocks are expected to get some interest too as crude palm oil surges pass the RM4,000 per tonne on the reopening of China.

Therefore, Rakuten Trade expects Bursa's key index to trend between the 1,470-1,485 range today.

"We believe some window dressing may be in the offing due to some broad-based buying support for the local bourse of late.

"As China is scrapping its zero Covid policy, we reckon economic activities within Asia to escalate especially domestic demand in China and tourism within the region," Rakuten Trade said in a report today.

The FBM KLCI closed flat on Tuesday after a choppy trading session as last-minute buying activities emerged.

The benchmark index ended at 1,474.69 with losers led by Malayan Banking Bhd, Public Bank Bhd and Hong Leong Bank Bhd.

Market breadth was negative with 491 losers against 392 gainers while 375 counters remained unchanged.

Total volume stood at 3.06 billion shares valued at RM1.85 billion.

https://www.nst.com.my/business/2022/12/864929/bursa-rebound-banking-plantation-stocks-today