KUALA LUMPUR, Jan 22 — Bursa Malaysia opened higher on Wednesday, following Wall Street’s positive performance in its first trading session after Donald Trump’s inauguration, with investors being optimistic that Trump’s trade policies might be less harsh than expected.
At 10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 6.64 points to 1,587.10, up from Tuesday’s close of 1,580.46.
The benchmark index opened at 1,583.22.
Malacca Securities Sdn Bhd expects a last-minute shopping spree to benefit the consumer, aviation and tourism sectors with the upcoming Chinese New Year festive season and the start of Sumbangan Tunai Rahmah Phase 1 cash payments today.
“Meanwhile, bargain-hunting in the technology sector may continue, as Malaysia remains largely unaffected by the US chip sanctions, at least for the near term,” the brokerage said in a note.
On the broader market, the FBM Emas Index gained 42.65 points to 12,184.01, the FBMT 100 Index rose 41.41 points to 11,862.66, the FBM Emas Shariah Index advanced 41.35 points to 12,097.41, the FBM 70 Index increased 41.02 points to 18,263.69, and the FBM ACE Index rose 15.33 points to 5,261.65.
By sector, the Energy Index advanced 1.01 points to 859.21, while the Financial Services Index strengthened 56.28 points to 18,892.03.
The Industrial Products and Services Index edged down 0.01 points to 170.94, and the Plantation Index rose 50.37 points to 7,426.53. — Bernama
