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KUALA LUMPUR, May 17 — Bursa Malaysia resumed trading on a mixed pattern today, with higher key index lifted by positive Wall Street performance on Friday.
At 9.07am, the benchmark index FTSE Bursa Malaysia KLCI (FBM KLCI) gained 4.84 points to 1,587.36 from Wednesday’s close of 1,582.52.
The index opened 5.03 points weaker at 1,577.49.
On the broader market, losers outpaced gainers 380 to 172, while 304 counters were unchanged, 1,329 untraded and five others suspended.
Total volume stood at 545.76 million worth RM229.85 million.
Malacca Securities Sdn Bhd expects market sentiment to remain weak, given the third movement control order (MCO) environment, despite the positive performance on Wall Street, as well as the geopolitical tension in the Middle East, bringing the Brent oil price slightly higher last Friday.
Meanwhile, the crude palm oil futures climbed above RM4,500 per tonne last week
Malacca Securities said investors were likely to focus on healthcare stocks on the back of rising Covid-19 cases in several countries such as Taiwan and Singapore.
“Also, traders may lookout for sectors high earning certainties ahead of the May reporting season, including packaging and plastic-related companies on the back of higher demand amid MCO. Besides, the commodities rally may shine a light on sectors such as plantation, energy and metal-related stocks,” it said in a research note today.
Among heavyweights, Maybank advanced eight sen to RM8.29, Public Bank increased six sen to RM4.20, Petronas Chemicals gained five sen to RM8.15, TNB appreciated seven sen to RM9.94, Maxis was flat at RM4.53, IHH Healthcare declined nine sen to RM5.36, Top Glove slipped eight sen to RM5.27, and Press Metal shed six sen to RM5.34.
Of the actives, Kanger, KTG and Minda Global edged up half-a-sen each to eight sen, 21 sen and 15 sen, respectively, Lambo was flat at 1.5 sen, and Focus Dynamics and Tanco Holdings inched down half-a-sen to 5.5 sen and 14 sen.
On the index board, the FBM Emas Index recovered 14.17 points to 11,577.21, and the FBMT 100 Index improved 20.01 points to 11,253.98.
However, the FBM Emas Shariah Index decreased 2.53 points to 12,927.87, the FBM ACE erased 48.53 points to 7,897.63, and the FBM 70 declined 29.15 points to 14,946.69.
Sector-wise, the Plantation Index fell 32.89 points to 7,040.89, the Industrial Products and Services Index slipped 0.95 of-a-point to 196.29, while the Financial Services Index soared 92.63 points to 14,943.17.
Bursa Malaysia and its subsidiaries was closed from May 13-16 for the Aidilfitri celebrations. — Bernama
Source: Malay Mail
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