Bursa Malaysia opens higher lifted by banking stocks

This resulted in the benchmark FBM KLCI gaining 3.83 points from yesterday’s close of 1,420.38

BURSA Malaysia opened higher today, with the FTSE Bursa Malaysia KLCI (FBM KLCI) putting on 0.27% to 1,424.21 points on renewed buying interest, anchored mainly by gains in banking stocks, said a dealer.

At 9.06am, the benchmark FBM KLCI gained 3.83 points from yesterday’s close of 1,420.38.

The market bellwether opened 5.14 points higher at 1,425.52.

On the broader market, gainers led losers 140 to 105, while 204 counters were unchanged, 1,877 untraded and 19 others suspended.

Turnover stood at 99.98 million units worth RM42.51 million.

Rakuten Trade Sdn Bhd VP (equity research) Thong Pak Leng said local equities could see limited upside today as sentiment turned cautious although some bargain activities may emerge.

Meanwhile, he said chaos continued to reign on Wall Street with all three major indices closing lower as traders were still digesting the US Federal Reserve’s stance on interest rate hikes.

“As such, the Dow Jones Industrial Average declined 146 points while the Nasdaq fell 182 points as the US 10-year yield inched higher to 4.15%,” he told Bernama. 

On the domestic front, he anticipated the FBM KLCI to hover at the 1,415-1,425 range today with some degree of accumulation on banking stocks.

Among Bursa Malaysia heavyweights, Hong Leong Bank Bhd rose 34 sen to RM20.78, Malayan Banking Bhd gained six sen to RM8.47, Public Bank Bhd added two sen to RM4.38, RHB Bank Bhd improved four sen to RM5.52 and IHH Healthcare Bhd perked up five sen to RM5.96.

Among the actives, Citaglobal Bhd and Green Packet Bhd were flat at 29 sen and four sen respectively, while Awanbiru Technology Bhd went up 1.5 sen to 51 sen, SNS Network Technologyu Bhd and Tanco Holdings Bhd climbed half-a-sen to 23.5 sen and 41 sen, respectively. 

On the index board, the FBM Emas Index ticked up 21.41 points to 10,124.93, the FBM 70 expanded 12.29 points to 12,071.99 and the FBM T100 Index put on 22.68 points to 9,860.87.

 The FBM Emas Shariah Index increased 8.05 points to 10,166.6, while the FBM ACE declined by 1.94 points to 4,884.49. 

Sector-wise, the Financial Services Index gained 88.21 points to 16,143.85, the Energy Index was 3.03 points firmer at 711.07, while the Industrial Products and Services Index eased 0.16 of-a-point to 172.1 and the Plantation Index slid 20.76 points to 6,696.27. — Bernama

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