Bursa Malaysia opens higher, emulating Wall Street's gains

At 9.02am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) improved 6.82 points to 1,507.79 from yesterday’s close of 1,500.97. — Picture by Azneal Ishak
At 9.02am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) improved 6.82 points to 1,507.79 from yesterday’s close of 1,500.97. — Picture by Azneal Ishak

KUALA LUMPUR, July 1 ― Bursa Malaysia opened higher across the board today, emulating Wall Street's gains, said a dealer.

At 9.02am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) improved 6.82 points to 1,507.79 from yesterday’s close of 1,500.97.

The index opened 2.96 points higher at 1,507.79.

Overall market breadth was positive with gainers outpacing losers 233 to 69, while 197 counters were unchanged, 1,415 untraded and 21 others suspended.

Total volume stood at 234.2 million shares worth RM68.13 million.

The Dow Jones Industrial rose 0.85 per cent to 25,812.88, while the S&P 500 improved 1.54 per cent to 3,100.29.

Malacca Securities Sdn Bhd, in note today, said the FBM KLCI may continue on the recovery path, taking the cue from the gains on Wall Street overnight as investors turned slightly optimistic on the recent batch of stronger-than-expected economic data.

Meanwhile, the conclusion of the quarterly reporting earnings season may also bring some stability as investors focus on the gradual reopening of economic activities, it said.

Among heavyweights, Maybank added two sen to RM7.53, Tenaga increased 12 sen to RM11.74, while IHH Healthcare was flat at RM5.50, Public Bank eased six sen to RM16.44 and Petronas Chemicals receded one sen to RM6.19.

Of the most actives, Fintec Global and Sasbadi added 1.5 sen each to 7.5 sen and 13 sen, respectively, Iris Corp improved one sen to 19.5 sen, while Key Alliance was flat at six sen and AT Systematization eased 1.5 sen to nine sen.

On the index board, the FBM Emas Index rose 44.31 points to 10,596.29, the FBMT 100 Index appreciated 51.36 points to 10,464.36 and the FBM 70 improved 79.83 points to 13,019.46.

The FBM Emas Shariah Index was 70.97 points higher at 12,110.26 and the FBM ACE added 8.01 points to 6,172.32.

Sector-wise, the Industrial Products and Services Index increased 0.17 point to 133.83, the Financial Services Index rose 24.84 points to 12,737.35, and the Plantation Index improved 64.01 points to 6,774.25. ― Bernama

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