BURSA Malaysia opened on a positive note today, taking its cue from the Wall Street’s rebound overnight after the previous selloff due to rate hike concerns, a dealer said. 

At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) increased by 9.57 points to 1,478.01 from Wednesday’s close of 1,468.44.

The benchmark index opened 4.92 points higher at 1,473.36.

On the broader market, gainers led losers 188 to 81, while 180 counters were unchanged, 1,902 untraded and 21 others suspended.

Turnover stood at 132.21 million units worth RM60.82 million.

In a research note today, Malacca Securities Sdn Bhd said the market is expected to remain volatile, at least until the US Federal Open Market Committee meeting which will be held next week. 

“Investors are waiting for more clarity from the US Federal Reserve chair Jerome Powell on the interest rate decision. Currently, the market is pricing in a 75 basis points rate hike.

“Meanwhile, geopolitical uncertainties could be capping the upside reward at this juncture,” it said. 

As for commodities, crude oil ticked up to US$94 (RM423) per barrel mark, while crude palm oil traded above RM3,800 per tonne, it said. 

Among the heavyweights, both Malayan Banking Bhd and CIMB Group Holdings Bhd gained seven sen each to RM8.92 and RM5.46, respectively, Public Bank Bhd added four sen to RM4.48, IHH Healthcare Bhd improved 10 sen to RM6.30, while Petronas Chemicals Group Bhd declined five sen to RM8.65. 

Of the actives, SNS Network Technology Bhd, Siab Holdings Bhd and Yew Lee Pacific Group Bhd firmed one sen each to 31 sen, 17.5 sen and 26.5 sen, respectively, while both Vinvest Capital Holdings Bhd and NWP Holdings Bhd edged up half-a-sen to 20 sen and 24.5 sen, respectively. 

On the index board, the FBM Emas Index expanded 56.76 points to 10,531.96, the FBM T100 Index ticked up 58.19 points to 10,275.19, the FBM Emas Shariah Index increased 38.11 points to 10,630.9, the FBM 70 advanced 38.83 points to 12,747, while the FBM ACE was 12.32 points lower at 4,832.58.

Sector-wise, the Energy Index was 10.3 points stronger at 729.24, the Plantation Index perked 5.47 points to 6,950.51 and the Financial Services Index surged 129.71 points to 16,613.76, while the Industrial Products and Services Index eased 0.19 of-a-point to 181.56. — Bernama / pic Muhd Amin Naharul