Bursa Malaysia opens higher

KUALA LUMPUR,. Bursa Malaysia opened higher today, supported by bargain hunting despite the Wall Street’s softer performance.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 6.55 points firmer at 1,592.53 from yesterday’s close of 1,585.98.

The index opened 7.64 points higher at 1,593.62.

On the broader market, there were 203 gainers and 94 losers, while 202 counters were unchanged, 1,791 untraded and 82 others suspended.

Total turnover stood at 196.37 million worth RM88.88 million.

Malacca Securities Sdn Bhd said Wall Street staged a mild recovery after coming off its intraday highs as the Dow Jones Index rose 0.2 per cent on a barrage of mixed corporate earnings.

“While global uncertainties may still loom, the recovery-themed sector on the local bourse may gain traction as further relaxation of Covid-19 standard operating procedures (SOPs) effective May 1, 2022, could signal a greater extent of economic recovery,” the brokerage said in a note.

On the commodities market, the firm said the crude palm oil futures surged above RM6,900 per tonne following Indonesia’s decision to widen the scope of its export ban to include crude palm oil, while the crude oil price remained supported above US$100 per barrel.

Among the Bursa heavyweights, Maybank rose five sen to RM9.03, Petronas Chemicals added four sen to RM9.96, IHH Healthcare gained seven sen to RM6.64 and CIMB was up two sen to RM5.17, while Public Bank was flat at RM4.71.

Of the actives, MN Holdings increased 1.5 sen to 22.5 sen, Nestcon inched up one sen to 50.5 sen, Ajiya bagged three sen to RM1.17, while Anzo lost 1.5 sen to two sen and Pertama Digital slid one sen to 89.5 sen.

On the index board, FBM ACE increased 16.70 points to 5,587.47, FBM 70 improved 63.79 points to 13,592.58, FBM Emas Index expanded 48.03 points to 11,385.83, FBMT 100 Index strengthened 46.89 points to 11,044.57, and FBM Emas Shariah Index climbed 50.72 points to 11,932.68.

Sector-wise, the Financial Services Index expanded 50.18 points to 16,850.20, the Industrial Products and Services Index was 0.46 of-a-point better at 206.63, and the Plantation Index increased 115.40 points to 8,833.60. ― Bernama


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