KUALA LUMPUR — Bursa Malaysia opened higher today, driven by positive China’s export data estimation set to be released today, said an analyst.
At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 4.96 points to 1,619.69 from yesterday’s close of 1,614.73.
The barometer index opened 1.24 higher at 1,615.97.
On the broader market, gainers led losers 312 to 159, with 318 counters unchanged, 1,594 untraded and 20 others suspended.
Turnover was 312.50 million shares worth RM174.85 million.
UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan said Asian markets, including Malaysia, traded higher today, driven by China’s export data, which is set to be released today.
“Early estimates suggest that China’s exports will likely increase in May as external demand strengthens. We anticipate that faster exports will gain traction to support a manufacturing-led recovery.
“This positive outlook on China’s export growth could boost investor confidence in Asian markets, including Bursa Malaysia, as stronger exports indicate robust economic activity in the region, potentially benefiting Malaysian companies involved in manufacturing and trade,” he told Bernama.
Among the heavyweights, Maybank and Public Bank added 1.0 sen each to RM9.99 and RM4.14, respectively, Tenaga Nasional surged 16.0 sen to RM13.86, and IHH Healthcare gained 2.0 sen to RM6.26.
Meanwhile, CIMB fell 1.0 sen to RM6.94.
Among the actives, Jati Tinggi Group added 6.0 sen to 41.5 sen, and Datasonic Group and Kinergy Advancement each gained half-a-sen to 55.5 sen and 36.5 sen, respectively, and Powerwell Holdings was flat at 51 sen. JCY International dropped half-a-sen to 61.0 sen
On the index board, the FBM Emas Index jumped 40.01 points to 12,343.70, the FBMT 100 Index expanded 38.44 points to 11,934.21, and the FBM Emas Shariah Index bounced 53.47 points to 12,629.65.
The FBM 70 Index gained 64.62 points to 17,705.47, and the FBM ACE Index increased 0.33 of-a-point to 5,500.27.
Sector-wise, the Financial Services Index added 19.53 points to 17,656.96, the Health Care Index rose 21.38 points to 2,150.13, and the Plantation Index was up 7.21 points to 7,120.07.
The Industrial Products and Services Index eased 0.35 of-a-point to 196.89. — BERNAMA