Bursa opens higher amid better Wall Street performance overnight

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KUALA LUMPUR (Sept 23): Bursa Malaysia opened higher today amid better Wall Street performance overnight.


At 9.15am, the benchmark FBM KLCI had risen 4.13 points or 0.27% to 1,533.15 from yesterday’s close at 1,529.02.

It opened 3.31 points higher at 1,532.33.

Market breadth was positive with gainers outpacing losers 334 to 159, while 310 counters were unchanged, 1,499 untraded and five others suspended.

Turnover stood at 418.1 million units worth RM245.13 million.

In a research note today, Malacca Securities Sdn Bhd opined that overnight gains on Wall Street, news of the reopening of interstate borders when the adult population vaccination rate reaches 90% and the government’s decision to move three more states to the next phase of the National Recovery Plan (NRP) could lift investor sentiment.

“As three more states are transitioning into the next phase of the NRP, which signals a brighter economic recovery, investors may be on the lookout for aviation, tourism and consumer-related stocks.


“Meanwhile, we expect telco-related stocks to extend their rally move today on the back of the National Digital Network (JENDELA) tender news,” it said.

Among the heavyweights, Malayan Banking Bhd (Maybank) added one sen to RM8.11, Public Bank Bhd and IHH Healthcare Bhd gained two sen each to RM4.06 and RM6.65 respectively, Petronas Chemicals Group Bhd (PetChem) rose three sen to RM8.08 and Petronas Gas Bhd (PetGas) shed eight sen to RM16.82.

Of the actives, Bintai Kinden Corp Bhd advanced three sen to 68 sen, OPCOM Holdings Bhd increased five sen to RM1.16, KNM Group Bhd edged up half a sen to 23.5 sen, Binasat Communications Bhd went up one sen to 44 sen, AYS Ventures Bhd appreciated six sen to 77 sen and TFP Solutions Bhd declined 1.5 sen to 14.5 sen.

On the index board, the FBM Emas Index widened 34.14 points to 11,267.25, the FBMT 100 Index bagged 30.06 points to 10,967.52, the FBM Emas Shariah Index went up 38.31 points to 12,281.98, the FBM 70 was 43.06 points higher at 14,949.99 and the FBM ACE expanded by 61.32 points to 7,168.87.

Sector-wise, the Plantation Index rose 9.13 points to 6,283.85, the Industrial Products and Services Index added 1.41 points to 199.63, and the Financial Services Index widened by 55.65 points to 15,209.51. -BERNAMA -The Edge Markets