Bursa Malaysia extends gains to open higher

BURSA Malaysia extended its uptrend to open higher today, supported by continuous buying in selected heavyweights, in line with the positive momentum in regional bourses, dealers said.

At 9.15 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.87 of-a-point to 1,464.30 from 1,463.43 at Friday’s close.

The key index opened 0.64 of-a-point firmer at 1,464.07. 

The broader market was positive with advancers surpassing decliners 306 to 184, while 316 counters were unchanged, 1,518 untraded and 31 others suspended.

Turnover amounted to 456.0 million units worth RM187.33 million.

In a note today, Malacca Securities Sdn Bhd said that given Wall Street’s upbeat performance last week, buying interest may spill over towards local stocks, especially the technology counters.

“We believe the softer-than-expected jobs data last week suggests that the United States Federal Reserve may hold on to its current interest rate status and provide upside potential towards the stock markets.

“Meanwhile, the local bourse may stay bullish following the launch of the National Energy Transition Roadmap (NETR) and the New Industrial Master Plan 2030 (NIMP 2030),” it said.

Among the heavyweights, Maybank and CIMB slipped 1.0 sen each to RM9.14 and RM5.73, respectively, while Public Bank and Tenaga Nasional added 1.0 sen each to RM4.25 and RM9.93, respectively, and Petronas Chemicals increased 2.0 sen to RM7.14.

Of the actives, KNM Group went up 1.0 sen to 10.5 sen, Bumi Armada improved 2.5 sen to 55.5 sen, DNex gained 1.5 sen to 48 sen and JAKS was flat at 23.5 sen.

On the index board, the FBM Emas Index went up 13.45 points to 10,830.09, the FBMT 100 Index rose 11.97 points to 10,495.25, the FBM Emas Shariah Index edged up 18.24 points to 11,016.12 and the FBM 70 Index advanced 40.54 points to 14,374.51, while the FBM ACE Index gave up 9.86 points to 5,218.23. 

Sector-wise, the Energy Index expanded 15.38 points to 871.52, the Industrial Products and Services Index earned 0.61 of-a-point to 173.15, the Plantation Index surged 13.94 points to 6,951.64, and the Financial Services Index climbed 7.51 points to 16,479.12. — BERNAMA