KUALA LUMPUR, April 15 — Bursa Malaysia extended yesterday’s gains to open higher today supported by continuous buying in the index-linked counters amid positive regional sentiment.

At 9.12am, key index FTSE Bursa Malaysia KLCI (FBM KLCI) gained 3.6 points to 1,375.26 from 1,371.66 at Tuesday’s close.

The key index opened 3.96 points firmer at 1,375.62.

Market breadth was positive, with gainers outnumbering losers 298 to 92, while 237 counters were unchanged, 1,277 untraded and 19 others suspended.

Turnover stood at 567.96 million worth RM162.31 million.

Malacca Securities Sdn Bhd said the stronger-than-expected economic data from China yesterday powered global equities higher as investors reassess the impact stemmed from the Covid-19 pandemic. 

At the current juncture, it appeared that the impact was less severe than anticipated as markets cheered on. 

However, many countries have only started to adopt the nationwide lockdown or social distancing method later in March or early April and this might result in weakness to deepen for April 2020 data, it said.

“Amid the calmer market conditions, we reckon that the optimism stemming from the gradual re-opening of economic activities may continue to provide further room for recovery. 

“Should there be follow-through buying interest beyond the 1,370 level breakthrough on the FBM KLCI, we reckon that the 1,400 will serve as the immediate resistance while the immediate support is pegged at the 1,340 level, followed by the 1,320 level,” the research firm said in a note today.

Among the heavyweights on Bursa Malaysia, Tenaga rose eight sen to RM12.22, IHH Healthcare bagged six sen to RM5.15, Petronas Chemicals perked five sen to RM5.22, Maxis added two sen to RM5.26.

Maybank slipped one sen to RM7.57 while Public Bank eased six sen to RM15.78.

Of the actives, Mtouche increased 2.5 sen to 9.5 sen, MCT added 1.5 sen to 20 sen, while both Vortex and Minetech were flat at nine sen and 25 sen respectively.

On the index board, the FBM Emas Index was 38.48 points higher at 9,527.44, the FBM Emas Shariah Index advanced 61.48 points to 10,531.65, while the FBMT 100 Index improved 37.45 points to 19,421.12.

The FBM 70 chalked up 97.64 points to 11,217.14 and the FBM Ace bagged 17.51 points to 4,289.64.

Sector-wise, the Industrial Products and Services Index inched up 0.97 points to 113.87, the Financial Services Index slipped 1.68 points to 12,364.1 while the Plantation Index appreciated 3.32 points to 6,250.03. — Bernama