KUALA LUMPUR,. After five consecutive days of losses, Bursa Malaysia has rebounded this morning as investors await the re-tabling of Budget 2023 tomorrow.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 2.72 points to 1,466.72 from Wednesday’s close of 1,464.0.

The index opened 0.58 points firmer at 1,464.58.

On the broader market, gainers outpaced decliners 166 to 111, while 226 counters were unchanged, 1,732 untraded and 12 others suspended.

Turnover amounted to 238.43 million units worth RM65.95 million.

In a note today, Malacca Securities Sdn Bhd said investors are keeping their eyes on the re-tabling of Budget 2023 tomorrow as well as Malaysia’s inflation rate.

It noted that on Wall Street, the Dow Jones Index fell 0.26 per cent after the United States Federal Reserve meeting minutes signalled that interest rate hikes may continue amidst ongoing concerns over inflationary pressure.

The brokerage said investors may remain cautious while monitoring the inflation data for more clues on the interest rate direction going forward.

As for commodities, it noted that Brent crude oil price staged a pullback towards US$80 per barrel, while the crude palm oil (CPO) price hovered above RM4,200.

On sectors in focus, it said investors may look out for trading opportunities in renewable energy, electric vehicle and construction sectors prior to the re-tabling of Budget 2023, while the plantation sector should gain momentum given the solid CPO price.

In the meantime, Bursa heavyweights Maybank added four sen to RM8.70, Petronas Chemical expanded seven sen to RM8.27 and Tenaga Nasional rose by one sen to RM9.66, while Public Bank and CIMB remained unchanged at RM4.13 and RM5.47, respectively.

As for the actives, Dagang Nexchange climbed 4.5 sen to 66.5 sen, Aimflex gained 1.5 sen to 16 sen, Hextar Industries ticked up one sen to 81 sen and Sapura Energy remained unchanged at 4.5 sen, while Hong Seng Consolidated gave up three sen to 15.5 sen.

On the index board, the FBM Emas Index perked 14.05 points to 10,653.26, the FBMT 100 Index went up 12.96 points to 10,328.98, the FBM Emas Shariah Index expanded 12.08 points to 10,981.13, and the FBM ACE Index advanced 19.30 points to 5,499.89, while the FBM 70 Index dipped 10.07 points to 13,378.79.

Sector-wise, the Plantation Index increased 3.03 points to 6,836.04, the Energy Index edged up 0.67 of-a-point to 862.67, the Industrial Products and Services Index was 0.69 of-a-point stronger at 186.72 and the Financial Services Index bagged 23.85 points to 16,019.32. — Bernama




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