KUALA LUMPUR, Dec 29 — Bursa Malaysia opened slightly higher today, but mild profit-taking activities are expected due to the winning streak over the last few days, a dealer said.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) earned 0.41 of-a-point to 1,540.30 after the key index closed at 1,539.89 yesterday.
The index opened 0.5 of-a-point higher at 1,540.39.
On the broader market, gainers led losers 141 to 106, while 206 counters were unchanged, 1,858 untraded and 37 others suspended.
Turnover stood at 76.25 million units valued at RM51.69 million.
Malacca Securities Sdn Bhd, in a research note, said the markets are also closely monitoring the Omicron variant, which, despite having mild symptoms, has caused cancellation of flights in various countries as cases spiked.
“Given the mixed feeling on Omicron worries, we expect mild profit-taking activities to emerge on the local front. Nevertheless, market trading activities might recover with the new developments on the share trading stamp duty and that should limit the downside risk on the broader market,” the firm said.
It also noted that trading interest is expected to return to healthcare stocks, while traders may focus on the window-dressing activities on the heavyweights.
“Meanwhile, the overall broader market sentiment may turn positive as stamp duty capping on share trading may return,” it added.
Of heavyweights, PChem gained two sen to RM8.90, Maybank and IHH were flat at RM8.30 and RM6.76, respectively, while PBBank lost one sen at RM4.17.
Of the actives, Opcom advanced three sen to RM1.01, DNex, Scope accumulated half-a-sen each to 78 sen and 27.5 sen, Sernkou was unchanged at 74 sen, while Ecomate lost half-a-sen to 50.5 sen.
On the index board, the FBM Emas Index was 5.40 points higher at 11,169.12, the FBMT 100 Index went up 4.09 points to 10,868.39, and the FBM Emas Shariah Index increased 17.63 points to 12,029.93.
The FBM 70 rose 10.7 points to 14,214.71 and the FBM ACE gained 17.35 points to 6,340.84.
Sector-wise, the Industrial Products and Services Index inched up 0.23 of-a-point to 201.26, the Plantation Index rose 8.18 points to 6,585.63, while the Financial Services Index erased 20.53 points to 15,551.96. — Bernama
