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Bursa Malaysia opens higher

bursa-malaysia-opens-higher

KUALA LUMPUR,. Bursa Malaysia opened 0.22 per cent higher today, tracking global equities, as well as following the latest development in the Russia-Ukraine crisis, as investors adopt a wait-and-see approach on possible enforcement blocks of Russia fuel imports.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.51 points to 1,602.48 from 1,598.97 at yesterday’s close.

The barometer index opened 2.34 points lower at 1,596.63 and rebounded thereafter.

On the broader market, gainers led losers 213 to 110, while 225 counters were unchanged, 1,754 untraded and 44 others suspended.

Total turnover stood at 161.55 million worth RM113.66 million.

Public Investment Bank Bhd, in a morning note, said Wall Street stocks rose and government bonds remained under pressure on Thursday as US President Joe Biden met NATO and G7 leaders to discuss their collective response to Russia’s invasion of Ukraine.

It said the parties forged an agreement to step up preparations for potential chemical and nuclear weapon threats, while investors were awaiting a response from European Union leaders on possible blocks to Russian fossil fuel imports.

“Investors also remain focused on the path of monetary policy and persistent inflation, after retracing earlier losses stemming from the onset of Russia’s war with Ukraine,” it said.

Among the heavyweights, Maybank was flat at RM8.98, Public Bank rose one sen to RM4.66, Petronas Chemicals gained four sen to RM9.66, and IHH Healthcare and CIMB up five sen each to RM6.59 and RM5.32, respectively.

Of the actives, Dagang Nexchange increased two sen to RM1.06, Opcom up 2.5 sen to 82 sen, while Velesto Energy and CSH lost half-a-sen each to 10.5 sen and 14 sen, respectively, and Eduspec was flat at two sen.

On the index board, FBM 70 increased 80.32 points to 13,781.74, FBM Emas Index rose 33.76 points to 11,444.52, FBM Emas Shariah Index ticked up 60.75 points to 12,065.18, FBMT 100 Index gained 33.83 points to 11,133.21, and FBM ACE jumped 39.35 points to 5,631.54.

Sector-wise, the Industrial Products and Services Index accumulated 0.84 of-a-point to 205.32, the Plantation Index rose 13.83 points to 8,048.69, while the Financial Services Index lost 22.83 points to 16,755.36. ― Bernama

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