KUALA LUMPUR, May 9 — Bursa Malaysia staged a rebound to open higher in early trade today on continuous buying momentum despite the mixed performance on the Wall Street overnight, a dealer said.
At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.36 points to 1,606.11 from yesterday’s close of 1,604.75.
The benchmark index opened 1.46 points better at 1,606.21.
In the broader market, gainers outnumbered decliners 187 to 134, while 300 counters remained unchanged, with 1,707 untraded and 12 others suspended.
Turnover amounted to 209.58 million units worth RM90.07 million.
Rakuten Trade Sdn Bhd in a note said the FBM KLCI remained in upbeat sentiment despite encountering some selling pressure during Wednesday’s afternoon session.
It viewed yesterday’s intermittent correction as healthy and may act as a solid foundation for the local bourse’s ongoing uptrend.
“For today, we expect the index to hover between 1,600 and 1,615 as we believe foreign funds will continue to snap up local heavyweights,” it said.
Among the heavyweights, Maybank eased one sen to RM9.79, Public Bank and IHH Healthcare were flat at RM4.20 and RM6.31 respectively, Tenaga Nasional lost two sen to RM12.38, while CIMB rose two sen to RM6.76.
As for the actives, Ingenieur was half-a-sen lower at 7.5 sen, Jiankun was unchanged at 17 sen, while Harvest Miracle and Iconic gained half-a-sen each to 12 sen and 12.5 sen respectively.
On the index board, the FBM Emas Index rose 9.22 points to 12,117.06, the FBMT 100 Index advanced 7.21 points to 11,734.61 and the FBM Emas Shariah Index added 6.96 points to 12,344.53.
Meanwhile, the FBM 70 Index shed 0.65 of-a-point to 17,005.24 and the FBM ACE Index slipped 1.53 points to 5,134.52.
Sector-wise, the Financial Services Index climbed 9.01 points to 17,484.97, the Industrial Products and Services Index edged up 0.19 of-a-point to 193.11, the Plantation Index increased 13.28 points to 7,514.14, and the Energy Index rose 5.20 points to 986.51. — Bernama
