KUALA LUMPUR, March 19 — Bursa Malaysia opened higher for a second consecutive day today, as an overnight rally on Wall Street continued to support investors’ sentiment and risk appetite.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.79 of-a-point to 1,691.73 from yesterday’s close of 1,690.94.
The index opened 1.54 points firmer at 1,692.48.
On the broader market, gainers trounced losers 114 to 91, while 187 counters remained unchanged, 1,496 untraded and 21 others suspended.
Turnover stood at 102.69 million shares worth RM42.84 million.
In a note today, Public Investment Bank Bhd said investors will wait for this week’s Federal Reserve (Fed) meeting for fresh insight into US monetary policy.
“The Fed is expected to rein in predictions for interest rate rises in 2019 at a two-day meeting which begins on Tuesday, while attention will be trained on any plans for a wind down of its balance sheet and central bankers’ economic forecasts,” it said.
On the technical side, Maybank Investment Bank Research (Maybank IB) anticipated the FBM KLCI to range between 1,670 and 1,700-point today, with downside supports at the levels of 1,658 and 1,645.
“Given the nature of the rotation play, the domestic market may be ripe for near-term profit-taking,” it said.
Investors are also expected to watch closely the two-day 15th Invest Malaysia Capital Market forum, starting today, for further investment directions.
Among heavyweights, Maybank and CIMB added one sen each to RM9.50 and RM5.49, respectively, Petronas Chemicals rose six sen to RM9.31, while Public Bank, Tenaga and IHH were unchanged at RM24.48, RM13.06 and RM5.85, respectively.
Of the actives, Metronic Global ticked up 1.5 sen to nine sen, MSCM and PUC perked half-a-sen each to 26.5 sen and 11 sen, respectively, while Dayang trimmed four sen to RM1.58 and Sino Hua-An was half-a-sen lower at 25.5 sen.
Carlsberg emerged as the top gainer, advancing 32 sen to RM25.68 while Petronas Dagangan was the top loser, losing 20 sen to RM24.90.
The FBM Emas Index accumulated 3.84 points to 11,820.59, the FBMT 100 grew 3.39 points to 11,666.73, the FBM Emas Shariah Index strengthened 5.10 points to 11,848.97 and the FBM Ace Index was 2.54 points better at 4,904.32.
The FBM 70, however, gave up 4.30 points to 14,233.17.
Sector-wise, the Financial Services index was 14.35 points higher at 17,514.35, the Industrial Products and Services Index inched up 0.58 of-a-point to 171.47 while the Plantation Index was flat at 7,285.63. — Bernama
