By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, Nov 2 (NNN-Bernama) — Bursa Malaysia, the stock exchange of Malaysia, staged a rebound to open higher Thursday taking the cue from a firmer Wall Street.
At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.08 points to 1,437.41 from Wednesday’s closing of 1,435.33.
The benchmark index opened 0.61 of a point higher at 1,435.94.
On the broader market, gainers edged past losers 141 to 101 while 215 counters were unchanged, 1,893 untraded and 14 suspended.
Turnover stood at 197.64 million units worth RM60.99 million (US$1=RM4.75).
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said Wall Street went on a mini rally following the US Federal Reserve (Fed) decision to pause rate increase during its latest Federal Open Market Committee (FOMC) meeting Wednesday.
Nonetheless, the Fed said it would be open for an assessment of the economic situation come the next FOMC in mid-December.
The Dow Jones Industrial Average gained 221 points (0.67 per cent) while the Nasdaq jumped 210 points (1.64 per cent) with the US 10-year Treasury yield easing to 4.73 per cent.
“Back home, the FBM KLCI is expected to move within the 1,440-1,450 range as bargain hunting should emerge on the bank, telecommunication and utility counters ahead of the impending results season,” Thong told Bernama.
Among the heavyweights, CelcomDigi perked four sen to RM4.24, Public Bank added two sen to RM4.17, Petronas Gas recovered 16 sen to RM17.24, Tenaga Nasional was up five sen to RM9.90 and Axiata was three sen higher at RM2.21.
Of the actives, SMTrack added one sen to four sen, MQ Technology was flat at 2.5 sen, CSH Alliance gained half-a-sen to five sen but Salutica slid one sen to 71.5 sen.
On the index board, the FBM Emas Index grew 20.52 points to 10,601.72, the FBMT 100 Index was up 18.26 points to 10,276.69 and the FBM Emas Shariah Index climbed 31.17 points to 10,795.88.
The FBM 70 Index added 39.56 points to 13,964.28 but the FBM ACE Index fell 2.24 points to 4,997.28.
Sector-wise, the Industrial Products and Services Index edged up 0.08 of a point to 170.09 and the Plantation Index gained 5.10 points to 6,891.16.
The Energy Index increased 0.80 of a point to 858.45 but the Financial Services Index decreased 3.56 points to 16,1980.18.
— NNN-BERNAMA