KUALA LUMPUR, Aug 9 — Bursa Malaysia rebounded from last week’s close to kick off the week higher, driven by renewed buying interest in selected heavyweights due to lower stock prices, dealers said.

At 9.16am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.87 points to 1,494.67 from Friday’s close of 1,489.80.

The index opened 1.96 points better at 1,491.76.

On the broader market, gainers surpassed losers 276 versus 215, while 338 counters were unchanged, 1,366 untraded and 11 others suspended.

Turnover stood at 437.98 million units worth RM24.28 million.

In line with the regional downtrend, Malacca Securities Sdn Bhd said the FBM KLCI finished the volatile week on a sour note amid selling in selected heavyweights on the key index.

“The US recovery and Prime Minister Tan Sri Muhiyiddin Yassin’s announcement over the weekend on standard operating procedure (SOP) relaxations for fully vaccinated citizens will be positive for the market, especially for recovery-theme sectors,” it said in a research note today.

Meanwhile, it said Malaysia’s second quarter gross domestic product growth rate which will be released on Friday may draw attention.

“Investors may focus on recovery-theme stocks such as building material, domestic tourism and aviation — related, as the market is looking ahead for the relaxation of SOPs for those who are fully vaccinated. Besides, the technology sector should remain resilient amid expectations of solid earnings,” it said.

Among the heavyweights, Maybank and Public Bank added 2.0 sen each to RM8 and RM3.96, respectively, Petronas Chemicals improved 3.0 sen to RM8.02, TNB went up 4.0 sen to RM9.65, while IHH Healthcare was flat at RM5.74.

Among the actives, DNex and Avillion earned half-a-sen each to 83 sen and 14.5 sen, respectively, TFP Solutions advanced 1.0 sen to 20.5 sen, and GUH increased 3.5 sen to 65 sen.

On the index board, the FBM Emas Index was 32.05 points better at 10,986.15, the FBM ACE earned 0.09 of-a-point to 7,176.07, the FBM 70 perked 30.25 points to 14,589.43, the FBM Emas Shariah Index gained 22.71 points to 12,058.66, and the FBMT 100 Index rose 31.52 points to 10,695.15.

Sector-wise, the Financial Services Index increased 32.51 points to 14,736.97, but the Plantation Index gave up 9.0 points for 6,116.45, while the Industrial Products and Services Index added 0.84 of-a-point to 189.53. — Bernama