KUALA LUMPUR,. Bursa Malaysia rebounded to open higher this morning on mild buying interest in selected heavyweights, led by CIMB and Public Bank.
At 9.07am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.94 points to 1,517.89, from Thursday’s close of 1,514.95.
The index opened 2.28 points higher at 1,517.23.
On the broader market, gainers slightly outpaced losers 198 to 168, while 236 counters were unchanged, 1,606 untraded and seven others suspended.
Turnover stood at 279.18 million units worth RM92.68 million.
Malacca Securities Sdn Bhd believed that factors such as a clearer picture on the political front, further relaxed standard operating procedures (SOP) in Phase One states under the National Recovery Plan (NRP) as well as the corporate earnings reporting season could boost trading interest in the local bourse.
“Nevertheless, downside risks include the high Covid-19 daily infection rate as well as the declining crude oil price.
“Additionally, the crude palm oil (CPO) price has been retreating below the RM4,500 level,” the brokerage firm said in a research note today.
It noted that investors may focus on the recovery-theme sectors such as consumer as well as transportation and logistics, following the further relaxation on SOPs in Phase One states starting today.
“Meanwhile, in view of the upcoming reporting season, traders may look out for technology, healthcare and plantation sectors,” said Malacca Securities.
Among the heavyweights, CIMB rose four sen to RM4.64, Public Bank gained two sen to RM3.93, Maybank added three sen to RM8.12, Kuala Lumpur Kepong advanced 18 sen to RM20.18, Petronas Chemicals was flat at RM7.97 and TNB shed two sen to RM9.88.
Of the actives, TFP Solutions was one sen higher at 22 sen, Advance Synergy increased one sen to 18 sen, both Malayan United and Dagang NeXchange inched up half-a-sen to nine sen and 74.5 sen, respectively, AE Multi Holdings was flat at four sen and Serba Dinamik eased one sen to 40.5 sen.
On the index board, the FBM ACE was 34.31 points higher at 7,144.47, the FBM Emas Index improved 23.06 points to 11,097.36, the FBM Emas Shariah Index went up 11.94 points to 12,193.28, the FBMT 100 Index widened 21.63 points to 10,812.31, and the FBM 70 bagged 31.60 points to 14,558.91.
Sector-wise, the Industrial Products and Services Index edged up 0.16 of-a-point to 189.03, the Financial Services Index appreciated 41.94 points to 14,838.64, and the Plantation Index improved by 36.59 points to 6,410.09. — Bernama