KUALA LUMPUR, Jan 5 ― Bursa Malaysia opened slightly higher today, as investors took the cue from an uptrend seen in the overnight Wall Street and regional bourses, dealers said.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 0.24 of-a-point to 1,542.14 compared with 1,541.9 at yesterday’s close.
The index opened 0.51 of-a-point better at 1,542.41.
Market breadth remained positive with gainers leading decliners 162 to 123, while 265 counters were unchanged, 1,723 untraded and 16 others suspended.
Turnover stood at 198.84 million units valued at RM63.29 million.
Malacca Securities Sdn Bhd said the local exchange might extend its positive sentiment today, but the upside could be limited, tracking the mixed sentiment on Wall Street.
“Additionally, investors might stay cautious, given that the multiple rate hikes in 2022 are on the cards,” the research house said in a note.
On the commodity market, Malacca Securities said crude oil price hovered around the US$80 (RM335.33) per barrel mark as the Organisation of the Petroleum Exporting Countries (Opec) and allies decided to stick to its plan to increase oil output in February, thus easing concern over a surplus in the first quarter.
“We reckon the firmer crude oil and crude palm oil (CPO) prices will continue to drive energy and plantation counters on the back of higher expectation in the upcoming reporting season.
“Besides, investors may put plastic manufacturers on the radar as average selling price may stay elevated on the back of higher oil prices,” it said.
The CPO price trended firmly above RM4,900 per tonne.
Of the heavyweights, Maybank eased three sen to RM8.33, IHH Healthcare contracted four sen to RM6.78, while Public Bank and Petronas Chemicals were flat at RM4.13 and RM8.78, respectively.
CIMB gained two sen to RM5.44 and Tenaga added one sen to RM9.19.
Of the actives, Bintai and SMTrack inched up half-a-sen each to 21 sen and 26 sen, respectively, Avillion bagged one sen to 11 sen, while IRIS was flat at 18 sen.
On the index board, the FBM Emas Index was 7.51 points higher at 11,208.74, the FBM Emas Shariah Index perked 0.86 of-a-point to 12,055.88, and the FBM ACE rose 28.5 points to 6,600.81.
However, the FBM 70 erased 10.16 points to 14,293.41 and the FBMT 100 Index slipped 0.47 of-a-point to 10,892.37.
Sector-wise, the Industrial Products and Services Index added 0.03 of-a-point to 201.98, the Financial Services Index increased 22.91 points to 15,656.78, while the Plantation Index trimmed 2.76 points to 6,626.16. ― Bernama
