KUALA LUMPUR, Nov 4 — Bursa Malaysia opened higher today, tracking the uptrend on Wall Street, buoyed by investors’ hopes on the US presidential election clarity, as well as a potential fiscal stimulus package that may be crafted in the wake of the results, said an analyst.

As at 9.05am, the benchmark index FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.87 points to 1,464.32 after opening 3.04 points better at 1,464.49.

Gainers outnumbered losers 276 to 107, while 248 counters were unchanged, 1,510 untraded and 18 others suspended.

Total volume stood at 321.75 million worth RM105.74 million.

Malacca Securities Sdn Bhd expects the tepid momentum to continue as investors will be monitoring the US election results that has kept investors on their toes.

"Meanwhile, we expect rotational play to take charge on the lower liners, although sentiment remain rocky as the US enters into the ballot tallying during market trading hours today.

"We see the construction sector to come into the spotlight as we approach the tabling of Budget 2021 on the back of expectations that mega infrastructure projects will be retained,” it said in a research note today.

The research firm further noted that the technology sector is also expected to remain firm in view of the solid performance on Nasdaq overnight.

Gains on the market barometre were mainly contributed by Fraser and Neave which rose 26 sen to RM31.28, Malaysian Pacific Industries added 16 sen to RM22.02 and Hartalega increased 10 sen to RM17.86.

Of the heavyweights, Maybank eased one sen to RM6.99, Top Glove unchanged at RM8.32 and Public Bank improved four sen to RM15.00.

On the actives, Vortex Consolidated gained half-a-sen to 5.5 sen, XOX was 1.5 sen lower at 11.5 sen, GD Express Carrier added two sen to 41.5 sen, while Salcon unchanged at 34 sen.

On the index board, the FBM Emas Index improved 33.28 points to 10,595.07, the FBMT 100 Index was 30.27 points better at 10,401.48 and the FBM Emas Shariah Index increased 37.90 points to 12,708.65.

The FBM 70, meanwhile, went up 78.67 points to 13,893.29 and the FBM ACE was 94.12 points firmer at 9,853.93.

The Financial Services Index rose 21.26 points to 12,003.33, the Industrial Products and Services Index was 0.34 point better at 142.62 and the Plantation Index gained 4.30 points to 6,847.68. — Bernama