KUALA LUMPUR, Feb 16 ― Bursa Malaysia opened higher in the early trading session today, rising above the 1,600 threshold, on improving sentiment and strong net buying support from foreign funds over the past few trading sessions, a dealer said.

At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 2.19 points to 1,601.80 from 1,599.61 at yesterday's close after opening 7.04 points higher at 1,606.65.

Market breadth was positive with gainers leading losers 295 to 180, while 255 counters were unchanged, 1,498 untraded and 10 others suspended.

Turnover stood at 320.14 million units worth RM222.05 million.

Malacca Securities Sdn Bhd, in a note, said the positive mood in the local bourse could continue, and moreover the key index’s underlying tone is still broadly positive.

"We reckon that the plantation sector may experience some profit-taking after enjoying a good run as of late, while the financial services sector appears to be gaining traction as economic activities gradually return to pre-pandemic levels,” it said.

In the meantime, the brokerage expects rotational interest on the lower liners as traders will be taking advantage of the improved trading liquidity.

Heavyweights Press Metal improved 10 sen to RM6.94, Petronas Gas gained 32 sen to RM17.58, IHH Healthcare firmed six sen to RM6.62, and Maybank added four sen to RM8.66.

As for the actives, SMTrack rose one sen to 22 sen, Dagang NeXchange increased five sen to RM1.18, Hibiscus Petroleum stayed flat at RM1.14, while Eastland Equity eased 1.5 sen to seven sen.

On the index board, FBM ACE fell 6.97 points to 6,278.48, FBM 70 improved 59.59 points to 13,754.95, FBM Emas Index bagged 22.14 points to 11,433.43, FBMT 100 Index advanced 22.44 points to 11,120.19, and FBM Emas Shariah Index rose 24.49 points to 12,170.13.

Sector-wise, the Financial Services Index advanced 47.51 points to 16,500.94, the Industrial Products and Services Index was 1.28 points better at 213.09, while the Plantation Index slipped 101.37 points to 7,555.05. ― Bernama