Bursa Opens Higher Despite Softer US Market Overnight
Market Overview
Bursa Malaysia rebounded to open higher on Friday, despite a weaker overnight US market. At 9:05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,635.09, down 2.22 points from Thursday’s close of 1,632.87. The index had initially opened 2.07 points higher at 1,634.94.
Trading Activity
Advancers outpaced decliners on the broader market 164 to 131, with 264 counters unchanged, 1,796 untraded, and 11 suspended. Turnover stood at 119.32 million units, valued at RM69.23 million.
Sector Performance
By sector, the energy index gained 11.77 points to 842.19, the financial services index bounced 20.04 points to 19,080.49, the industrial products and services index edged up 0.06 of-a-point to 174.19, and the plantation index declined 1.93 points to 7,621.50.
Stock Performance
Among heavyweights, CIMB advanced 5 sen to RM8.18, TNB increased 4 sen to RM14.80, IHH Healthcare gained 2 sen to RM7.32, Hong Leong Bank bagged 16 sen to RM20.58, CelcomDigi was flat at RM3.65, Maybank shed 2 sen to RM10.16 and Public Bank declined 1 sen to RM4.53.
Active Stocks
In active stocks, Datasonic garnered 1.5 sen to 43.5 sen, Vetece Holdings firmed 2.5 sen to 55 sen, Carlo Rino added 1 sen to 21.5 sen, Yew Lee Pacific and Winstar Capital were flat at 51 sen and 71 sen, respectively while SNS Network eased 1 sen to 69 sen and Jiankun inched down 0.5 sen to 4.5 sen.
Indices
The FBM emas index appreciated 21.60 points to 12,558.18, the FBM emas shariah index went up 19.39 points to 12,569.17, and the FBMT 100 index was 16.31 points higher at 12,230.13. The FBM 70 index scored 24.19 points to 18,854.12 while the FBM ACE index rose 5.77 points to 5,437.87.
Conclusion
Despite a softer US market overnight, Bursa Malaysia opened higher on Friday, driven by gains in the energy and financial services sectors. The market is expected to remain volatile in the coming days, with investors keeping a close eye on global developments and domestic economic data.
FAQs
Q: What was the opening level of the FBM KLCI on Friday?
A: The FBM KLCI opened at 1,634.94, up 2.07 points from the previous day’s close.
Q: Which sectors performed well on Friday?
A: The energy and financial services sectors gained the most, with the energy index rising 11.77 points and the financial services index bouncing 20.04 points.
Q: Which stocks were among the top gainers on Friday?
A: CIMB, TNB, IHH Healthcare, Hong Leong Bank, and Datasonic were among the top gainers, with CIMB advancing 5 sen to RM8.18 and Datasonic garnering 1.5 sen to 43.5 sen.