KUALA LUMPUR: Bursa Malaysia opened marginally higher today, taking its cue from the Wall Street’s upward trajectory overnight due to strong corporate earnings data, a dealer said.
At 9.10 am, the FBM KLCI rose 0.22 of-a-point to 1,403.25 from 1,403.03 at Tuesday’s close. The key index opened 1.54 points firmer at 1,404.57.
Bursa Malaysia and its subsidiaries were closed on Wednesday in conjunction with the Awal Muharram public holiday.
The broader market was positive as advancers beat decliners 215 to 146, while 305 counters were unchanged, 1,620 untraded and 14 others suspended.
Turnover stood at 302.75 million units worth RM122.55 million.
However, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng expects the FBM KLCI to be sluggish today as investors anticipate another rate hike by the Federal Reserve next week.
“Therefore, we expect the index to hover within the 1,400-1,410 range again amid another mixed day regionally.
“We believe some profit-taking activities on the plantation stocks may occur today following the sector’s strong performance recently, and given that the crude palm oil price has eased to below RM3,900 per tonne,“ he told Bernama.
Among the heavyweights, Public Bank gained one sen to RM3.97, while Maybank eased three sen to RM8.79 and IHH Healthcare lost two sen to RM5.82, and both CIMB and Tenaga Nasional remained unchanged at RM5.22 and RM9.10, respectively.
Of the actives, SIAB added 1.5 sen to 15 sen and UEM Sunrise rose one sen to 40 sen, while Classita and Tanco were flat at 23 sen and 56.5 sen, respectively, and newly-listed MST Golf dropped eight sen to 73 sen.
On the index board, the FBM Emas Index ticked up 7.31 points to 10,405.55, the FBMT 100 Index was 6.06 points higher at 10,084.70, and the FBM Emas Shariah Index was up 7.35 points to 10,701.36.
The FBM 70 Index climbed 27.19 points to 13,926.21, and the FBM ACE Index advanced 7.56 points to 5,373.12.
Sector-wise, the Financial Services Index gave up 2.24 points to 15,667.52, the Industrial Products and Services Index inched up 0.09 of-a-point to 162.18, the Plantation Index rose 23.91 points to 6,945.55 and the Energy Index strengthened 3.29 points to 810.85. - Bernama
Source: The Sun Daily
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