Bursa Malaysia continues upward momentum at opening

KL shares today continued yesterday’s momentum to open higher today. — Bernama pic
KL shares today continued yesterday’s momentum to open higher today. — Bernama pic

KUALA LUMPUR, Nov 27 — KL shares continued yesterday’s momentum to open higher today, driven by strong demand from both local and international investors. 

At 9.03am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 6.12 points higher at 1,618.23 compared with yesterday’s close of 1,612.11.

The index opened 3.09 points higher at 1,615.20.

Across the broader market, gainers thumped losers 306 to 140 while 312 counters were unchanged, 1,413 untraded and 88 others suspended.

Volume stood at 672.90 million shares worth RM174.70 million.

Malacca Securities, in its equity note, said the positive progress of Budget 2021 has instilled further confidence into the Malaysian market as the FBM KLCI soared beyond the 1,600 psychological level yesterday.

“With the uncertainty from the aforementioned event being eliminated, the focus has now reverted to the economic recovery progress. Hence, we reckon that the positive momentum may resume over the near term,” it said.

It added that the lower liners are also on a positive note with investors nibbling on beaten down stocks, capitalising on the positive market sentiment.

On Bursa Malaysia, Top Glove continued its upward momentum, rising five sen to RM7.10,  IHH increased three sen to RM5.63, Hartalega inched up four sen to RM14.70 and Public Bank added 10 sen to RM18.82.

Among the actives, Fintec global and its warrant added 2.5 sen and half-a-sen to 12 sen and 1.5 sen, respectively, AT Systematization added one sen to 21 sen, and Bina Puri rose 1.5 sen to 10.5 sen. 

On the index board, the FBM Emas Index was 42.93 points higher at 11,601.57, the FBMT 100 Index increased 41.52 points to 11,392.06, the FBM Emas Shariah Index jumped 54.02 points to 13,362.65, and the FBM 70 advanced 48.07 points to 14,817.13.

The FBM ACE climbed 59.02 points to 10,660.32, the Industrial Products and Services Index picked up 0.85 of-a-point to 162.26, the Plantation Index added 7.0 points to 7,357.37, and the Financial Services Index climbed 56.75 points to 14,261.89. — Bernama

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