By Durratul Ain Ahmad Fuad
KUALA LUMPUR, June 14 (NNN-Bernama) — Bursa Malaysia, the stock exchange of Malaysia, opened on a positive note on Wednesday, taking its cue from the Wall Street’s uptrend overnight after the United States’ (US) inflation data came in within expectation.
At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.54 points to 1,383.15 from 1,380.61 at Tuesday’s close.
The key index opened 1.09 points firmer at 1,381.70.
The broader market was positive with advancers leading decliners 209 to 137, while 229 counters were unchanged, 1,680 untraded and 12 others suspended.
Turnover was 212.87 million units worth RM98.59 million (US$21.3 million) (US$1 = RM4.62).
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the US inflation data came in within expectations, sparking hopes that the US Federal Reserve may pause their rate hike campaign later today.
“We reckon the FBM KLCI to improve and hover within the 1,380-1,390 range today, taking its cue from Wall Street’s upbeat performance.
“We believe buying interests may persist in technology stocks but profit-taking activities may emerge following a sharp spike-up since end-May,” he told Bernama.
Among the heavyweights, Maybank and Public Bank added one sen each to RM8.63 and RM3.82, respectively, Tenaga Nasional perked three sen to RM9.17, and Petronas Chemicals gained four sen to RM6.46, while CIMB was flat at RM4.99.
Of the actives, Classita and Sarawak Consolidated ticked up one sen to 11.5 sen and 38.0 sen, respectively, XOX inched up half-a-sen to two sen and Agmo increased eight sen to 62 sen, while Kumpulan Jetson decreased 1.5 sen to 31.5 sen.
On the index board, the FBM Emas Index was 23.18 points firmer at 10,220.18, the FBMT 100 Index added 22.40 points to 9,915.17, the FBM Emas Shariah Index pushed up 36.10 points to 10,573.71, the FBM 70 Index advanced 47.85 points to 13,585.52 and the FBM ACE Index went up 11.77 points to 5,158.30.
Sector-wise, the Financial Services Index recovered 15.33 points to 15,214.72, the Energy Index ticked up 3.20 points to 783.86, and the Industrial Products and Services Index expanded 0.65 of-a-point to 159.40.
However, the Plantation Index weakened by 11.96 points to 6,706.28.
— NNN-BERNAMA