KUALA LUMPUR,. Bursa Malaysia rebounded to open higher in the early trading session today, buoyed by renewed buying interest.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.41 points higher at 1,601.54, compared to yesterday’s close of 1,597.13.
The barometer index opened 2.49 points firmer at 1,599.62.
On the broader market, gainers surpassed losers at 207 versus 103, while 222 counters were unchanged, 1,721 untraded and 12 others suspended.
Total turnover stood at 199.14 million worth RM70.68 million.
In a note, Malacca Securities Sdn Bhd said it expects volatility to persist, given the higher-than-expected United States (US) Consumer Price Index data, adding that investors may focus on the accelerated inflation rate which may trigger a more hawkish tone from the US Federal Reserve (Fed) regarding its monetary policies.
On commodities, it said oil benchmark Brent crude was trading around US$105 per barrel, while crude palm oil futures (FCPO) hovered above RM6,100 — both firmer on the back of easing Covid-19 restrictions in China.
“We expect to see buying interest continuing to revolve around the plantation and oil and gas sectors amid firmer Brent crude oil and FCPO prices.
“Meanwhile, the construction and building material sectors are gaining traction as investors are putting government-related counters on the radar amid speculations of an early election,” it said.
Among the heavyweights, both Maybank and CIMB rose two sen to RM8.84 and RM5.35, respectively, Public Bank added one sen to RM4.68, IHH Healthcare gained seven sen to RM6.43, while Petronas Chemicals was flat at RM10.26.
Of the actives, ATA IMS and Vortex inched up 1.5 sen each to 54.4 sen and 21 sen, respectively, while CSH Alliance, Techna-X and China Ouhua bagged half-a-sen each to 14.5 sen, 10 sen and 8.5 sen, respectively.
On the index board, FBMT 100 Index recovered 39.26 points to 11,135.79, FBM Emas Index was 40.98 points firmer at 11,484.65, and FBM Emas Shariah Index added 51.01 points to 12,107.71, FBM 70 strengthened 83.84 points to 13,822.14, and FBM ACE ticked up 31.58 points to 5,836.69.
Sector-wise, the Industrial Products and Services Index improved 0.50 of-a-point to 213.52, the Financial Services Index jumped 34.71 points to 16,753.69, and the Plantation Index rose 27.53 points to 8,502.87. — Bernama