Bursa Malaysia Extends Gains To Open Higher After Wall St Rise

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Bursa Malaysia - pic for illustration purposes.
Bursa Malaysia - pic for illustration purposes.

At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 1.95 points to 1,390.32 from 1,388.37 at Wednesday’s close

KUALA LUMPUR — Bursa Malaysia extended its gains to open higher on Friday, taking a cue from Wall Street’s better performance overnight as major banks passed their US Federal Reserve (Fed) annual stress test. 

At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 1.95 points to 1,390.32 from 1,388.37 at Wednesday’s close.

The key index opened 0.15 of-a-point firmer at 1,388.52.

The broader market was positive with advancers surpassing decliners 122 to 103, while 257 counters were unchanged, 1,842 untraded and 96 others suspended.

Turnover stood at 297.53 million units worth RM84.31 million.

The local stock market was closed yesterday for the Hari Raya Aidiladha celebration.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng noted that the FBM KLCI had ended higher on Wednesday after a strong regional rally.

“As for today, we expect trading to be muted due to the long weekend in conjunction with the Hari Raya Aidiladha celebration. Nonetheless, we expect buying interest to return to banking stocks, reflecting the strong performance of banks on Wall Street,” he told Bernama

Thong anticipates the FBM KLCI to trend within the range of 1,385-1,395. 

Among the heavyweight stocks, Public Bank and IHH Healthcare gained two sen each to RM3.89 and RM5.89 respectively while Maybank rose one sen to RM8.74.

Tenaga Nasional perked up five sen to RM9.06 but CIMB eased three sen to RM5.12. 

Of the actives, M&A Equity and Sarawak Consolidated went up one sen each to 27 sen and 46 sen, respectively while Tanco earned half-a-sen to 57.5 sen.

TWL and Classita lost half-a-sen to three sen and nine sen, respectively. 

On the index board, the FBM Emas Index put on 16.21 points to 10,219.30, the FBMT 100 Index bagged 16.17 points to 9,923.15 and the FBM ACE Index pushed up 2.85 points to 5,082.02.

The FBM Emas Shariah Index advanced 20.77 points to 10,494.04 and the FBM 70 Index garnered 31.32 points to 13,414.28.

Sector-wise, the Financial Services Index recovered 7.93 points to 15,435.40, the Industrial Products and Services Index was 0.17 points lower at 157.70, and the Plantation Index slid 3.05 points to 6,722.80.

The Energy Index shed 1.55 points to 779.39. — Bernama

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