KUALA LUMPUR, Jan 27 (NNN-Bernama) — Bursa Malaysia, the stock exchange of Malaysia, rebounded from two days of losses to open higher Friday, taking the cue from the strong performance on Wall Street overnight. <\/p>\n\n\n\n
The US stock markets rebounded after the preliminary reading of the fourth quarter of 2022 Gross Domestic Product (GDP) expanded 2.9 per cent year-on-year which is quicker-than-expected despite the aggressive interest rate hikes, dealers said.<\/p>\n\n\n\n
At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 1.05 points to 1,499.44 from Thursday\u2019s close of 1,498.39.<\/p>\n\n\n\n
The market bellwether opened 1.58\u00a0points higher at 1,499.97. \u00a0 \u00a0<\/p>\n\n\n\n
On the broader market, gainers led decliners 213 to 102, while 245 counters were unchanged, 1,687 untraded and 49 others suspended.<\/p>\n\n\n\n
Turnover amounted to 269.26 million units worth RM82.23 million (US$1=RM4.23).<\/p>\n\n\n\n
Malacca Securities Sdn Bhd said, despite the weakness recently, the key index is expected to re-test the 1,500 level, taking cue from the positive sentiment on Wall Street overnight.<\/p>\n\n\n\n
It noted that the lower liners are staying firm amid strong buying interest, but the brokerage firm cautioned that the overbought position in most stocks across Bursa Malaysia may attract quick profit-taking over the foreseeable future.<\/p>\n\n\n\n
Globally, the stronger-than-expected economic data in the US may continue to lend support for further recovery on Wall Street, it said.<\/p>\n\n\n\n
Commodities wise, it shared that the Brent crude oil recovered all its previous session losses to close above US$87 per barrel on the back of larger-than-expected drawdown in natural gas inventory, while the crude palm oil (CPO) price ticked slightly higher, approaching RM3,800 per tonne.<\/p>\n\n\n\n
“We reckon the energy sector to take the spotlight in tandem with the rebound in crude oil prices.<\/p>\n\n\n\n
“The positive sentiment on Nasdaq overnight may boost the trading interest in the technology sector. Meanwhile, the strong numbers delivered by Capital A Bhd may boost the aviation and tourism related stocks,” it added.<\/p>\n\n\n\n
Among the heavyweights, Maybank added one sen to RM8.79, Public Bank eased one sen to RM4.27, Petronas Chemicals shed four sen to RM8.47, CIMB slid two sen to RM5.70, while Tenaga Nasional was flat at RM9.52.<\/p>\n\n\n\n
As for the actives, MMAG edged up half-a-sen to 2.5 sen, ATA IMS and Cypark added 3.5 sen each to 43 sen and 99.5 sen respectively and Tanco improved one sen to 36 sen.<\/p>\n\n\n\n
On the index board, the FBM Emas Index gained 11.73 points to 10,892.65, the FBMT 100 Index bagged 12.86 points to 10,566.96, and the FBM Emas Shariah Index perked up 23.68 points to 11,172.81.<\/p>\n\n\n\n
The FBM 70 Index rose 40.22 points to 13,719.69 while the FBM ACE Index increased 21.66 points to 5,709.25. <\/p>\n\n\n\n
Sector-wise, the Industrial Products and Services Index improved 0.47 of-a-point to 191.02, the Energy Index added 3.82 points to 874.46, and the Plantation Index climbed 23.28 points to 6,866.89, while the Financial Services Index gave up 19.23 points to 16,484.56. <\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, Jan 27 (NNN-Bernama) — Bursa Malaysia, the stock exchange of Malaysia, rebounded from two days of losses to open higher Friday, taking the cue from the strong performance on Wall Street overnight. The US stock markets rebounded after the preliminary reading of the fourth quarter of 2022 Gross Domestic Product (GDP) expanded 2.9 per cent year-on-year which is quicker-than-expected despite […]<\/p>\n","protected":false},"author":30,"featured_media":206162,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/208436"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=208436"}],"version-history":[{"count":2,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/208436\/revisions"}],"predecessor-version":[{"id":208446,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/208436\/revisions\/208446"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/206162"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=208436"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=208436"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=208436"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}