KUALA LUMPUR, May 26 ― Bursa Malaysia extended yesterday's gains to open higher today, supported by continued buying interest, in line with positive sentiments on the regional markets, dealers said.
At 9.53am, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 5.30 points or 0.35 per cent to 1,540.86 from Wednesday’s close of 1,531.30.
The benchmark index opened 4.16 points higher at 1,539.72.
On the broader market, gainers led losers 299 to 290, while 287 counters were unchanged, 1,437 untraded and 31 others suspended.
Turnover stood at 659.27 million units worth RM301.55 million.
In a research note, Malacca Securities Sdn Bhd said despite the rebound on the Wall Street overnight, the market sentiment is expected to remain cautious today on the back of concerns over the global supply chain crisis which may slow down the pace of economic recovery.
“Meanwhile, under the current inflationary environment, investors may favour sectors that are benefiting from the commodity boom. We remain optimistic about the energy sector as crude oil prices remain on the high side at around US$114 (RM501.30) per barrel.
“Investors may also look at the real estate investment trust (REIT) sector as business recovery bodes well for the occupancy rate, as well as technology stocks amidst the rebound on Nasdaq,” it said.
Among the heavyweights, Maybank added 7.0 sen to RM9.03, Public Bank advanced 4.0 sen to RM4.59, IHH Healthcare went up 5.0 sen to RM6.48 and TNB increased 1.0 sen to RM9.20, while Petronas Chemicals shed 7.0 sen to RM9.86.
Of the actives, Serba Dinamik rose 1.5 sen to 11.5 sen and Cypark Resources went up 3.0 sen to 41 sen, while KNM Group eased half-a-sen to 15 sen and MNC Wireless was flat at 1.5 sen.
On the index board, FBM ACE gained 57.17 points to 5,248.09, FBM Emas Shariah Index rose 15.10 points to 11,348.02, FBM Emas Index improved 33.90 points to 10,983.35, FBMT100 Index bagged 37.29 points to 10,670.44, and FBM70 strengthened 48.10 points to 13,067.58.
Sector-wise, the Industrial Products and Services Index was 0.51 of-a-point lower at 196.95, the Financial Services Index jumped 101.63 points to 16,597.36, and the Plantation Index advanced 15.97 points to 8,052.27. ― Bernama
