KUALA LUMPUR, Dec 27 (NNN-Bernama) — Bursa Malaysia, the stock exchange of Malaysia, regained some ground at the opening bell on Wednesday, rising a marginal 0.13 per cent amid lacklustre market action following a quiet trading day on Tuesday.
At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 1.95 points to 1,452.73 from Wednesday’s close of 1,450.78.
The FBM KLCI opened 1.59 points better at 1,452.37.
On the broader market, gainers surpassed losers 121 to 91, while 273 counters were unchanged, 1,818 untraded and 56 suspended.
Turnover amounted to 137.75 million units worth RM52.47 million (US$1=RM4.633).
Rakuten Trade Sdn Bhd said in a research note that globally, Wall Street remained upbeat as the enthusiasm on US equities continued to push the three major indices near their respective all-time high.
“However, the uptrend may have been overdone if and when the Federal Reserve decides to prolong its rate adjustments,” it said.
On the home front, the FBM KLCI yesterday fell to just above the 1,450 level as there was no follow-through buying on local stocks amid a slow trading day.
“Though we expect some accumulation on banking stocks to emerge following a week of decline, overall sentiment may still be lacklustre; hence we expect the index to hover within the 1,450 to 1,460 range today,” it added.
Among the heavyweights, Hong Leong Bank added 16 sen to RM18.66, Petronas Chemicals was four sen firmer at RM7.23, and Maybank and YTL Power increased two sen each to RM8.91 and RM2.52, respectively.
Of the actives, Sarawak Cable added five sen to 33 sen, Bina Puri and Minetech were half-a-sen better at nine sen and 16 sen, respectively, and TWL shed half-a-sen at three sen.
On the index board, the FBM ACE Index improved by 5.14 points to 5,224.11, the FBM Emas Index strengthened 17.47 points to 10,822.62, and the FBMT 100 Index inched up 14.57 to 10,481.75.
The FBM 70 Index added 22.40 points to 14,647.99 and the FBM Emas Shariah Index was 12.31 points higher at 11,023.84.
Sector-wise, the Industrial Products and Services Index improved 0.46 of-a-point to 173.0, the Financial Services Index climbed 35.8 points to 16,227.24, the Plantation Index perked 0.93 of-a-point to 6,999.06, and the Energy Index rose 3.20 points to 822.63.
However, the Property Index dropped 0.55 of-a-point to 863.37.
— NNN-BERNAMA
