.JPG "An investor monitors the stock prices in the gallery of the RHB Investment Bank Bhd headquarters in Kuala Lumpur March 17, 2020. u00e2u20acu2022 Picture by Hari Anggara")
KUALA LUMPUR, Dec 24 ― Bursa Malaysia extended yesterday's gain to open slightly higher today due to continued buying interest as mild profit-taking in selected heavyweights limited gains, dealers said.
At 9.26am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) earned 0.60 of-a-point to 1,517.02 from 1,516.42 yesterday.
The index opened 0.22 of-a-point higher at 1,516.64.
On the broader market, gainers led losers 192 to 157, while 240 counters were unchanged, 1,712 untraded and 15 others suspended.
Turnover stood at 233.47 million units valued at RM100.20 million.
Malacca Securities Sdn Bhd, in a research note, said window-dressing activities were expected to continue and support the FBMKLCI at least for the near term.
“We believe investors may pick up on recovery-theme stocks such as the aviation, gaming and tourism related sectors.
“Meanwhile, the banking sector may be focused on the back of window-dressing activities. Besides, oil and gas (O&G) and technology should trade higher following positive sentiment on Wall Street,” it said.
The research firm said Malaysia’s stock market traded higher yesterday, led by the industrial product and plantation sectors following positive performance on Wall Street overnight as Omicron-led selloff and concerns faded.
“Also, with the three-day rebound on the US stock markets, buying interest in local equities should pick up ahead of the Christmas season. Traders may shift their attention to recovery-theme stocks as data show that Omicron has lower risk of hospitalisation rate and its patients suffered milder symptoms,” it added.
Among the heavyweights, Maybank slipped 3.0 sen to RM8.22, Public Bank climbed 1.0 sen to RM4.15, while Petronas Chemicals, IHH Healthcare, and CIMB were flat at RM8.75, RM6.55 and RM5.36, respectively.
Of the actives, SMTrack rose 2.0 sen to 13.5 sen, while Kejuruteraan Asastera and Bintai Kinden were flat at 26 sen and 23 sen, respectively, and ATA IMS eased half-a-sen to 71.5 sen.
On the index board, the FBM Emas Index was 7.0 points higher at 10,990.93, the FBMT 100 Index went up 4.16 points to 10,700.42, and the FBM Emas Shariah Index increased 4.68 points to 11,791.72.
The FBM 70 rose 5.12 points to 13,978.89 and the FBM ACE gained 10.22 points to 6,208.47.
Sector-wise, the Industrial Products and Services Index eased 0.08 of-a-point to 197.76, the Financial Services Index improved 6.49 points to 15,426.85, and the Plantation Index declined 20.06 points to 6,502.18. ― Bernama
