Bursa Malaysia Opens Marginally Higher
Market Overview
Bursa Malaysia opened marginally higher today, taking a cue from Wall Street’s positive performance prior to the Christmas break, said an analyst. At 9:05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.70 of-a-point to 1,603.69 compared with Tuesday’s close of 1,602.99. The benchmark index opened marginally higher by 0.59 of-a-point at 1,603.58.
Broad Market Performance
The broader market was positive, with gainers outpacing decliners 140 to 102, while 283 counters remained unchanged, 1,897 were untraded, and 17 were suspended. Turnover stood at 190.31 million units valued at RM 54.75 million.
Analyst’s View
Rakuten Trade Sdn Bhd head of research Kenny Yee said US equities managed to conjure up a mini rally as all three major indices ended positively ahead of the Christmas break. On the home front, he observed that the FBM KLCI is in need of a major dose of liquidity despite signs of bargain-hunting activities. “Hopefully, the buying momentum will gather pace and carry the index higher into 2025. Hence, we expect the benchmark index to hover within 1,600-1,610 today,” he told Bernama.
Heavyweights and Active Stocks
Among heavyweights, Maybank eased two sen to RM10.06, and Public Bank lost four sen to RM4.51. However, CIMB and IHH Healthcare both added one sen to RM7.98 and RM7.09, respectively, while Tenaga Nasional was unchanged at RM14.08. For active stocks, Zen Tech rose 0.5 sen to one sen, Winstar Capital put on one sen to 65 sen, and PUC was flat at 4.5 sen. Aimflex fell 0.5 sen to 14.5 sen, and Life Water dropped two sen to 91 sen.
Index Board
On the index board, the FBM Emas Index earned 10 points to 12,292.88, the FBM Emas Shariah Index climbed 24.44 points to 12,262.10, and the FBMT 100 Index added 9.26 points to 11,978.61. The FBM 70 Index advanced 29.07 points to 18,404.34 but the FBM ACE Index edged down 0.55 of-a-point to 5,281.01.
Sectoral Performance
By sector, the Financial Services Index slipped 39.62 points to 18,844.11, the Industrial Products and Services Index edged up 0.95 of-a-point to 171.33, the Energy Index decreased 0.94 of-a-point to 814.12 and the Plantation Index picked up 6.21 points to 7,514.89.
Conclusion
In conclusion, Bursa Malaysia opened marginally higher today, driven by positive cues from Wall Street. The broader market was positive, with gainers outpacing decliners, and the benchmark index is expected to hover within 1,600-1,610 today.
FAQs
Q: What was the opening performance of Bursa Malaysia today?
A: Bursa Malaysia opened marginally higher today, with the FBM KLCI rising 0.70 of-a-point to 1,603.69.
Q: What was the performance of the broader market?
A: The broader market was positive, with gainers outpacing decliners 140 to 102.
Q: What was the view of Rakuten Trade Sdn Bhd head of research Kenny Yee?
A: Kenny Yee said that the FBM KLCI is in need of a major dose of liquidity despite signs of bargain-hunting activities, and expects the benchmark index to hover within 1,600-1,610 today.