Bursa Malaysia higher in early trade

There will be some buying activities for the banking and tech-related stocks

BURSA Malaysia opened on a positive note in the early morning session, tracking an improved Wall Street performance overnight. 

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 6.63 points to 1,408.52 from yesterday’s close of 1,401.89, after opening 5.5 points higher at 1,407.39.   

The market breadth was positive with advancers outpacing decliners 260 to 56, while 157 counters were unchanged, 1,928 untraded and 57 others suspended. 

Turnover stood at 123.66 million units worth RM57.47 million.

Rakuten Trade Sdn Bhd VP (equity research) Thong Pak Leng said he expects to see some buying activities today, particularly in banking and technology-related stocks.

“As such, we anticipate the index to trend in the 1,405-1,420 range today despite the cautious market undertone,” he told Bernama today. 

Among the heavyweights, Public Bank Bhd gained two sen to RM4.28, Petronas Chemicals Group Bhd increased four sen to RM8.41, CIMB Group Holdings Bhd and IHH Healthcare Bhd advanced six sen each to RM5.17 and RM5.99, respectively, while Malayan Banking Bhd and Hong Leong Bank Bhd were flat at RM8.56 and RM20.44, respectively. 

Of the actives, PT Resources Holdings Bhd went up two sen to 43.5 sen, Top Glove Corp Bhd bagged 1.5 sen to 60.5 sen, Tanco Holdings Bhd was one sen higher at 30.5 sen, while Velesto Energy Bhd, Sapura Energy Bhd and SNS Network Technology Bhd were flat at 11.5 sen, four sen and 27 sen, respectively. 

On the index board, the FBM Emas Index widened 53.3 points to 10,062.75, the FBM 70 garnered 88.48 points to 12,255.13 and the FBM T100 Index expanded 52.07 points to 9,812.58.  

The FBM Emas Shariah Index climbed 50.63 points to 10,124.4, while the FBM ACE ticked up 31.54 points to 4,687.44.   

Sector-wise, the Energy Index was firmer by 11.69 points at 682.01, the Plantation Index went up 46.91 points to 6,505.99, the Financial Services Index improved 67.04 points to 15,990.66, and the Industrial Products and Services Index perked 1.43 points to 171.58.19. — Bernama / TMRpic

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