Bursa Malaysia Opens Higher on Back of Robust US Stock Performance
Market Opens Higher
KUALA LUMPUR: Bursa Malaysia opened higher today, following a robust US stock market performance overnight, said an analyst.
Benchmark Index
At 9:06 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 2.13 points to 1,638.67 against Monday’s close of 1,636.54. The benchmark index opened 2.02 points firmer at 1,638.56.
Market Breadth
The market breadth was almost flat, with 132 gainers outpacing 130 decliners while 243 counters remained unchanged, 1,972 were untraded, and nine were suspended. Turnover stood at 137.68 million units, valued at RM81.41 million.
Analyst Insights
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said Wall Street closed broadly higher as both the Dow Jones Industrial Average and S&P 500 charted record highs ahead of the latest batch of corporate results, ignoring the higher US 10-year Treasury yield, which touched 4.09%.
FBM KLCI’s Performance
Back home, the FBM KLCI managed to close higher on Monday amid another lacklustre session as sentiment stayed cautious.
Heavyweights
Among the heavyweights, Hong Leong Bank rose 2.0 sen to RM21.30, Petronas Chemicals increased 3.0 sen to RM5.65, while MR DIY, Axiata and Sime Darby gained 1.0 sen each to RM2.17, RM2.41, and RM2.47, respectively.
Active Counters
As for the active counters, Northeast Group and Datasonic each advanced 1.5 sen to 51.5 sen and 44.5 sen, respectively, while 99 Speed Mart Retail surged 5.0 sen to RM2.51. Pertama Digital, however, eased half-a-sen to 29.5 sen.
Index Performance
On the index board, the FBM Emas Index grew 8.74 points to 12,298.69, the FBM Emas Shariah Index edged up 5.83 points to 12,207.73, and the FBMT 100 Index rose by 9.83 points to 11,999.55.
Sectoral Performance
Sector-wise, the Financial Services Index rose by 39.11 points to 19,298.28. The Plantation Index marginally slid by 0.20 of-a-point to 7,216.48, the Industrial Products and Services Index trimmed 0.01 of-a-point to 175.22, and the Energy Index slipped 7.51 points to 870.56.
Conclusion
Bursa Malaysia’s positive opening today, backed by the robust US market performance, is likely to sustain its momentum, with the FBM KLCI expected to hover within the 1,635-1,645 range.
FAQs
- What was the opening point of the FTSE Bursa Malaysia KLCI (FBM KLCI) today?
- 2.13 points to 1,638.67
- What were the performance indices of the major sectors today?
- Financial Services Index: +39.11 points to 19,298.28
- Plantation Index: -0.20 of-a-point to 7,216.48
- Industrial Products and Services Index: -0.01 of-a-point to 175.22
- Energy Index: -7.51 points to 870.56