KUALA LUMPUR, Dec 28 — Bursa Malaysia rose in the early session today, boosted by brisk buying momentum as the market heads into the final week of 2020.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 2.34 points to 1,643.51 after opening 1.06 points higher at 1,642.23, compared to Thursday’s closing of 1,641.17 .

The market was closed on Friday for Christmas.

On the broader market, gainers led losers 314 to 161, while 302 counters were unchanged, 1,351 untraded and 17 others suspended.

Advertisement

Volume stood at 550.91 million units worth RM143.49 million.

In a note today, Malacca Securities Sdn Bhd said the market might still focus on window dressing activities, but noted that the upside could be limited due to the new Covid-19 variant that is haunting the reopening of the major economies.

Meanwhile, market participants may be on the lookout for trading ideas along the construction and building material sectors due to ongoing and new infrastructure projects that will be expected moving into 2021, as well as rising commodities prices, it added.

Advertisement

“Besides, crude palm oil price has hit a multi-year high which could translate to firmer corporate earnings,” said Malacca Securities.

Of the heavyweights, Genting Bhd jumped seven sen to RM4.53, CIMB added four sen to RM4.23, Maybank and TNB increased eight sen each to RM8.52 and RM10.78, respectively, Public Bank was 14 sen higher at RM20.70, and Petronas Chemicals was flat at RM7.50.

Meanwhile, glove companies Top Glove and Hartalega both reduced eight sen to RM6.41 and RM12.50, respectively.

Of the actives, AT Systematisation rose three sen to 21.5 sen, Iris Corp added one sen to 41.5 sen, KTG and Pegasus were flat at 30 sen and three sen, respectively, while Fintec Global edged down half-a-sen 8.5 sen and Marine & General declined 2.5 sen to 19 sen.

On the index board, the FBM Emas Index went up 26.46 points to 11,837.38, the FBMT 100 Index bagged 23.96 points to 11,593.89, the FBM Emas Shariah Index perked 7.75 points to 13,290.93, the FBM 70 appreciated 60.55 points to 15,173.09, and the FBM ACE increased 40.71 points to 10,698.01.

Meanwhile, the Industrial Products and Services Index improved 0.20 of-a-point to 176.09, the Financial Services Index advanced 62.23 points to 15,322.60, and the Plantation Index widened 19.72 points to 7,437.0. — Bernama