KUALA LUMPUR, July 9 ― Bursa Malaysia opened marginally higher today, extending yesterday’s gains following a strong overnight performance of Wall Street lifted by demand on technology stocks.
Nasdaq hit a record closing high as investors focused on technology stocks that can outperform amid an acceleration of Covid-19 infections in about 30 American states.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.78 of a point to 1,584.28 from yesterday’s close of 1,583.50.
The index opened 0.44 of a point better at 1,583.94.
Overall market breadth was positive with gainers led losers 273 to 110, while 310 counters were unchanged, 1,241 untraded and 26 others suspended.
Total volume stood at 828.92 million shares worth RM182.33 million.
Rakuten Trade Sdn Bhd in a note Wall Street closed broadly higher driven by high liquidity despite the number of Covid-19 cases in the US surpassed the three million marks.
The Dow Jones Industrial (DJI) Average climbed almost 180 points to close above the 26,000 level again amid the high volatility.
“Regional markets should continue to be mixed with some upside bias today as China continues with its bullish run.
“On the local front we reckoned the FBM KLCI which have been extremely stubborn toward the upside thus far to challenge the 1,600 level buoyed by high liquidity following the latest cut in the interest rate on Tuesday,” it added.
Among heavyweights, Maybank added three sen to RM7.94, Public Bank gained four sen to RM18.04, and Hartalega rose six sen to RM16.48.
Top Glove eased six sen to RM20.48 and Tenaga was flat at RM11.56.
Of the most active, Eduspec and Fintec Global edged up half-a-sen each to 2.5 sen and 9.5 sen respectively, MQ Technology and DGB Asia improved one sen each to 10 sen and sic sen respectively while Vortex was flat at eight sen.
On the index board, the FBM Emas was 17.64 points better at 11,144.21, the FBMT 100 Index added 15.61 points to 10,991.06 and the FBM Emas Shariah Index expanded 14.21 points at 12,717.08.
The FBM 70 increased 60.03 points to 13,658.22 while the FBM ACE surged 106.85 points to 7,235.49.
Sector-wise, the Financial Services Index rose 50.90 points at 13,505.91, the Industrial Products and Services Index edged up 0.04 of a point to 140.97 and the Plantation Index improved 5.18 points to 6,892.37. ― Bernama
