bursa-malaysia-stages-rebound-to-open-higher,-in-line-with-asian-peers

KUALA LUMPUR,. Bursa Malaysia rebounded to open higher today as the risk appetite in Asian markets improved after Wall Street rose on Friday, said an analyst.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) climbed by 6.36 points to 1,459.91 from Friday’s close of 1,453.55.

The key index opened 5.22 points better at 1,458.77.

The market breadth was positive with gainers surpassing decliners 235 to 88, while 228 counters were unchanged, 1,668 untraded, and 11 others suspended.

Turnover amounted to 124.93 million units worth RM545.91 million.

Malacca Securities Sdn Bhd said however, caution may persist ahead of key American economic data this week, which may affect the US interest rate outlook.

“Nevertheless, the market has priced in the solid ISM manufacturing data in the United States, which should contribute to at least a positive short-term trading environment,” it said in a note today.

The brokerage said investors will also keep an eye on Bank Negara Malaysia’s interest rate decision this week.

Meanwhile, Brent crude oil rose above the US$85 (RM380.37) per barrel mark, while the crude palm oil (CPO) price surged above RM4,350.

Malacca Securities said the local technology sector may be lifted by Wall Street’s rise last Friday, while the energy and plantation sectors could be in focus amid rising crude oil and CPO prices. “Also, the potential upliftment of the price capping mechanism may bode well for poultry stocks,” it added.

Heavyweight counters, Petronas Chemicals pushed up two sen to RM7.28, Tenaga Nasional perked up four sen to RM9.44 and IHH Healthcare swelled five sen to RM5.94. Hong Leong Bank was flat at RM20.58 and CelcomDigi edged down one sen to RM4.33.

Among the active stocks, SMRT Holdings bagged four sen to 53 sen, Velesto Energy widened one sen to 22.5 sen, Lion Industries and Pharmaniaga earned half-a-sen each to 11 sen and 28 sen, respectively, while Boustead was flat at 85.5 sen.

On the index board, the FBM Emas Index ticked up 44.69 points to 10,633.12, the FBM 70 Index garnered 44.92 points to 13,491.53 and the FBM ACE Index grew 40.23 points to 5,466.96.

The FBMT 100 Index advanced 42.43 points to 10,312.19 and the FBM Emas Shariah Index gained 46.22 points to 10,860.26.

Sector-wise, the Financial Services Index recovered 64.78 points to 16,228.52, the Plantation Index expanded 28.65 points to 6,859.65 and the Energy Index earned 7.18 points to 878.91.

The Industrial Products and Services Index inched up 0.76 of-a-point to 178.41. — Bernama

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IL PRIMO ECOMMERCE SPECIALIZZATO IN DELIZIE AL TARTUFO E CAVIALE – CAVIAREAT.COM

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