KUALA LUMPUR, May 10 — Bursa Malaysia started the short trading week slightly higher amid mixed market sentiment ahead of the first quarter 2021 (1Q21) gross domestic product (GDP) results and Aidilfitri public holiday.

At 9.04am, the benchmark index FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.23 of-a-point to 1,587.68 from last Friday’s close of 1,587.45.

The index opened 0.03 of-a-point higher at 1,587.48.

Bank Negara Malaysia is scheduled to announce the 1Q21 performance on Tuesday.

On the broader market, gainers led losers 267 to 163, while 304 counters were unchanged, 1,436 untraded and seven others suspended.

Total volume stood at 289.98 million worth RM156.98 million.

Malacca Securities Sdn Bhd said sentiment in the market might continue to be cautious throughout the holiday-shortened trading week while focusing on the 1Q21 GDP growth rate, which might still be weak on the back of Covid-19 affected environment.

"Nevertheless, traders may focus on commodities that are on a rising tone such as crude palm oil (CPO), which jumped more than 5.0 per cent last week, as well as Brent oil price that has a slight uptick as of this juncture,” it said in a note today.

The research firm expects the key index to move in a tight range with support pegged between 1,555 and 1,565, while the resistance is set along the 1,600 and 1,620.

On sector focus, Malacca Securities said the plantation and oil and gas sectors might be under the limelight today amid firmer CPO and Brent oil price.

In addition, under the movement control order 3.0, stronger demand in the packaging and media-related stocks could be anticipated amid the stay home mode.

"Besides, the technology sector may see some technical rebound following the overnight gains in Nasdaq,” it reckoned.

Among heavyweights, Maybank, Public Bank and Petronas Chemicals slipped one sen each to RM8.23, RM4.09 and RM8.29, respectively.

Tenaga and IHH Healthcare added one sen each to RM9.91 and RM5.67, respectively, while rubber glove stocks — Hartalega, Top Glove and Supermax — were on the rise as Covid-19 cases in the country remained high.

Of the actives, Tanco was flat at 11 sen, Focus Dynamics and LKL inched up half-a-sen each to 10 sen and 37 sen, respectively, while KTG added one sen to 23.5 sen.

On the index board, the FBM Emas Index was 8.53 points higher at 11,666.15, the FBMT 100 Index gained 4.69 points to 11,319.07, the FBM Emas Shariah Index increased 29.6 points to 13,107.43, the FBM ACE advanced 70.45 points to 8,396.98, and the FBM 70 earned 18.07 points to 15,277.56.

Sector-wise, the Financial Services Index fell 20.85 points to 14,782.77, the Plantation Index was 44.72 points firmer at 7,142.21, and the Industrial Products and Services Index perked 0.27 of-a-point to 200.81. — Bernama