KUALA LUMPUR, June 28 — Bursa Malaysia rebounded in the early morning session, taking its cue from Wall Street’s better performance overnight as sentiments improved on the United States’ (US) solid set of economic data, showing that the US economy remains strong with no recession in sight, said an analyst.
At 9.12am, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 3.30 points to 1,390.04 from 1,386.74 at yesterday's close.
The key index opened 0.93 of-a-point firmer at 1,387.67.
The broader market was positive with advancers surpassing decliners 177 to 115, while 206 counters were unchanged, 1,824 untraded and 84 others suspended.
Turnover stood at 244.55 million units worth RM75.15 million.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng reckons that the FBM KLCI would see a slight recovery with buying interest returning to the financial and tech stocks following the bouts of profit-taking over the past three days.
“Therefore, we expect the index to hover within the 1,380-1,390 range today,” he told Bernama.
Among the heavyweights, Maybank and Tenaga Nasional rose three sen each to RM8.74 and RM9.22, respectively, Public Bank perked two sen to RM3.87 and CIMB edged up one sen to RM5.16, while IHH Healthcare was flat at RM5.82.
Of the actives, Tanco ticked up half-a-sen to 25 sen and MyEG erased 2.5 sen to 77.5 sen, while TWL, Classita and Dataprep were flat at 3.5 sen, nine sen and 17 sen, respectively.
On the index board, the FBM Emas Index put on 21.20 points to 10,215.51, the FBMT 100 Index bagged 21.27 points to 9,919.33, the FBM ACE Index added 16.77 points to 5,061.80, the FBM Emas Shariah Index advanced 18.81 points to 10,502.48, and the FBM 70 Index garnered 19.07 points to 13,401.49.
Sector-wise, the Financial Services Index recovered 32.38 points to 15,418.70, the Industrial Products and Services Index was 0.22 points higher at 158.49, and the Plantation Index expanded 6.51 points to 6,754.93, while the Energy Index eased 3.37 points to 777.95. — Bernama
