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Bursa opens higher on positive Wall Street showing

Bursa opens higher on positive Wall Street showing

KUALA LUMPUR: Bursa Malaysia opened higher on Friday, taking its cue from the Wall Street’s positive performance overnight, as well as those of its regional peers, a dealer said.

At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.45 points to 1,434.50 from Thursday’s close of 1,431.05.

The benchmark index opened 0.25 of-a-point higher at 1,431.30.

The overall market breadth was positive with gainers surpassing losers 131 to 95, while 167 counters were unchanged, 1,896 untraded and 10 others suspended.

Turnover stood at 77.59 million units worth RM33.11 million.

Rakuten Trade Sdn Bhd vice-president of Equity Research, Thong Pak Leng said trading of all three major indices on the Wall Street was choppy before staging a late rally to close positively.

“Concerns over inflation are still evident, even as the Dow Jones Industrial Average (DJI) gained 194 points, while the Nasdaq jumped by 179 points higher,” he told Bernama.

He also said the United States 10-year yield continued to slide and ended at 3.09 per cent.

Back home, he reckoned the FBM KLCI to hover within the consolidation phase and be in the 1,430-1,445 range today, in view of the prevailing cautious sentiments.

“Meanwhile, crude palm oil rebounded to reach closer to the RM4,900 per tonne level,” he added.

Among the heavyweights, Maybank and Public Bank gained three sen to RM8.59 and RM4.43, respectively, and CIMB added one sen to RM4.91, while Petronas Chemicals lost four sen to RM9.11 and IHH Healthcare was unchanged at RM6.36.

Of the actives, Xidelang Holdings remained unchanged at two sen, Dagang NeXchange rose half-a-point to 75.5 sen and Tafi Industries widened two sen to 49 sen, while both Straits Energy and Msian Genomics expanded 1.5 sen to 12.0 sen and 77.5 sen, respectively.

On the index board, FBM Emas Shariah Index was 25.43 points stronger at 10,378.41, FBM 70 increased 48.08 points to 12,391.96, FBM Emas Index appreciated 26.94 points to 10,234.18 and FBMT 100 Index surged 27.49 points to 9,976.59, while FBM ACE was weaker by 3.86 points at 4,742.75.

Sector-wise, the Financial Services Index strengthened 46.94 points to 15,967.53, while the Plantation Index declined 15.74 points to 6,938.54 and the Industrial Products and Services Index eased by 0.18 of-a-point to 181.10. — Bernama