The FBM KLCI is likely to trend between 1,435 and 1,450 today as the regional markets continue to perform mixed ahead of the US election results

BURSA Malaysia reversed yesterday’s losses to open higher today on mild buying interest in selected heavyweights, as mixed sentiment prevailed in regional markets, a dealer said. 

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) improved slightly by 1.22 points to 1,442.57 from yesterday’s close of 1,441.35.

The market bellwether opened 2.27 points firmer at 1,443.62.

On the broader market, gainers led decliners 145 to 106, while 205 counters were unchanged, 1,859 untraded and eight others suspended.

Turnover stood at 184.46 million units worth RM43.57 million.

Rakuten Trade Sdn Bhd VP (equity research) Thong Pak Leng said Wall Street continued with its uptrend as traders were waiting for the outcome of the US mid-term elections, in which many were expecting the Republicans to do well to put President Joe Biden under pressure.

“The Dow Jones Industrial Average jumped 334 points higher while the Nasdaq added 52 points as the 10-year US (Treasury) yield eased to 4.13%,” he told Bernama.

On the home front, he expected the FBM KLCI to trend between 1,435 and 1,450 today as the regional markets were likely to continue to perform mixed ahead of the US election results.

“It is also anticipated that the plantation as well as the oil and gas stocks may experience some selling pressure today as prices of crude palm oil and crude oil weaken due to demand concerns,” he added. 

Among heavyweight stocks, Sime Darby Plantation Bhd gained seven sen to RM4.40, Hong Leong Bank Bhd climbed 22 sen to RM20.88, IHH Healthcare Bhd added five sen to RM6.05, Digi.Com Bhd rose three sen to RM3.85 and CIMB Group Holdings Bhd increased two sen to RM5.44. 

Among the actives, Advance Synergy Bhd and Malayan United Industries Bhd ticked up half-a-sen to 13 sen and 11 sen, respectively, Eduspec Holdings Bhd and Velesto Energy Bhd were unchanged at two sen and 13 sen, respectively, and Citaglobal Bhd fell two sen to 27 sen.

On the index board, the FBM Emas Index grew 9.98 points to 10,236.62, the FBM Emas Shariah Index added 5.38 points to 10,313.74, the FBM 70 lifted 13.98 points to 12,136.47, the FBM T100 Index inched up 9.15 points to 9,970.61 and the FBM ACE perked 14.36 points to 4,955.79. 

Sector-wise, the Industrial Products and Services Index edged up 0.1 of a point to 173.73, the Plantation Index advanced 30.5 points to 6,865.56 and the Financial Services Index rose 37.63 points to 16,198.99.

However, the Energy Index was 6.21 points weaker at 718.25. — Bernama / pic TMR