KUALA LUMPUR: The local stock market edged up in early Tuesday trade, with chip makers and tech stocks taking the lead again, as investors hoped for a quick resolution to the country’s political situation after the resignation of the Cabinet on Monday. At Bursa on Monday, foreign funds were net buyers at RM20.8m and retailers at RM97.5m but local funds net sellers at RM118.3mOn the outlook for the local stock market, Maybank IB Research said the political woes in the country will continue to weigh on market sentiment. However, Rrakuten Trade was more optimistic after the KLCI recovered from its low late Monday as bargain hunting activities emerged. "It is also interesting to note that foreign funds were net buyers despite the uncertainty on the political front. Nestle was the top gainer, up 50 sen to RM133.80 and Heineken 22 sen to RM22.60.

Source: The Star August 17, 2021 01:41 UTC