Bursa Opens Slightly Higher on Sustained Buying Interest
KUALA LUMPUR: Bursa Malaysia opened slightly higher on Tuesday, supported by ongoing buying interest, as market participants reacted positively to reports that US President Trump refrained from unveiling new tariffs on China in his inauguration speech.
Market Performance
At 9:05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 0.90 of a point to 1,573.24, from yesterday’s close of 1,572.34. The benchmark index began the day 2.57 points higher at 1,574.91. Market breadth was positive, with gainers outpacing losers 154 to 115. Meanwhile, 239 counters were unchanged, 1,861 untraded, and 9 suspended. Turnover reached 114.09 million shares, valued at RM53.01 million.
Market Insights
UOB Kay Hian Wealth Advisors head of investment research Sedek Jantan said, "Trump has directed federal agencies to review existing tariff policies and broader trade relations, signaling a more measured approach. However, it is worth noting that Trump’s trade team is yet to be confirmed, suggesting that policy details are still being developed. While there is no immediate impact, future developments on the trade front remain highly likely."
Focus Shifts to US Corporate Earnings Season
With the absence of new tariffs, market concerns have eased, providing a stable outlook for Asian markets in the near term. Attention has now shifted to the US corporate earnings season, with early results, particularly from major banks, showing positive signs.
Stock Market Performance
Among the heavyweights, Maybank and IHH remained flat at RM10.28 and RM7.14, respectively. Public Bank gained two sen to RM4.33, CIMB added one sen to RM8.01, and Tenaga Nasional slid four sen to RM13.74. Among active stocks, Salutica gained one sen to 30 sen, Harvest Miracle Capital slipped three sen to 13.5 sen, Mah Sing Group eased six sen to RM1.32, while EA Holdings and TWL Holdings remained unchanged at 0.5 sen and 2.5 sen, respectively.
Sectoral Performance
By sector, the Energy Index advanced 2.42 points to 857.24, while the Financial Services Index increased 24.40 points to 18,823.60. The Industrial Products and Services Index edged down 0.31 points to 168.15, and the Plantation Index rose 4.47 points to 7,371.87.
Conclusion
Bursa Malaysia opened slightly higher on Tuesday, supported by sustained buying interest, as market participants reacted positively to reports that US President Trump refrained from unveiling new tariffs on China. With the absence of new tariffs, market concerns have eased, providing a stable outlook for Asian markets in the near term. Attention has now shifted to the US corporate earnings season, with early results showing positive signs.
Frequently Asked Questions
Q: What was the opening performance of the Bursa Malaysia?
A: The FBM KLCI opened 0.90 of a point higher at 1,573.24.
Q: What was the market breadth like?
A: Market breadth was positive, with gainers outpacing losers 154 to 115.
Q: What was the turnover like?
A: Turnover reached 114.09 million shares, valued at RM53.01 million.
Q: What are the key factors that influenced market performance?
A: The market was influenced by the absence of new tariffs, which eased concerns, and the shift in focus to the US corporate earnings season.