BURSA Malaysia opened slightly higher this morning, supported by fresh buying in selected heavyweights as lower prices after recent losses in certain counters drew investors’ interest.

At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased by 0.96 of-a-point to 1,410.58 from 1,409.62 at yesterday’s close.

The barometer index opened 0.68 points weaker at 1,408.94.

However, the broader market saw decliners surpassing advancers 205 to 123, while 252 counters were unchanged, 1,678 untraded and 14 others suspended.

Turnover stood at 201.88 million units worth RM71.13 million.

In a note today, Malacca Securities Sdn Bhd said the longer-than-expected negotiations on the US’ debt ceiling continue to stoke worries in the local and regional markets.

“Nevertheless, bargain-hunting activities may emerge in counters with a brighter outlook amidst the ongoing earnings reporting season.

“As for commodities, Brent crude oil traded above US$78 per barrel, while crude palm oil price hovered above RM3,400 per tonne. Meanwhile, gold traded above US$1,950 per ounce,” it said.

Among the heavyweights, Mlayan Banking Bhd (Maybank) increased 5.0 sen to RM8.61, Petronas Chemicals Group Bhd (PetChem) added 6.0 sen to RM7.01, Tenaga Nasional Bhd (TNB) rose 5.0 sen to RM9.57 and CIMB Group Holdings Bhd gained 2.0 sen to RM5.00, while Public Bank Bhd was flat at RM3.92.

As for the active counters, Parkson Holdings Bhd grew 2.5 sen to 17.5 sen, Iris Corp Bhd ticked up 1.0 sen to 11.5 sen, while Bahvest Resources Bhd, Tanco Holdings Bhd and Kanger International Bhd inched up half-a-sen each to 19.5 sen, 55.5 sen and 3.5 sen respectively.

On the index board, the FBM Emas Index expanded 4.40 points to 10,344.88 and the FBM T100 Index improved by 4.86 points to 10,048.55, while the FBM Emas Shariah Index shed 6.35 points to 10,710.44, the FBM 70 Index slid 1.75 points to 13,507.51 and the FBM ACE Index slipped 4.23 points to 4,943.57.

Sector-wise, the Industrial Products and Services Index added 0.34 of-a-point to 164.34 and the Financial Services Index earned 36.35 points to 15,385.68, while the Plantation Index reduced 47.02 points to 6,889.65 and the Energy Index contracted 2.07 points to 828.07. — Bernama