Bursa opens higher following rebound on Wall Street

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KUALA LUMPUR (Sept 15): Bursa Malaysia opened on a positive note on Thursday (Sept 15), taking its cue from Wall Street’s rebound overnight after the previous sell-off due to rate hike concerns, a dealer said.


At 9.10am, the benchmark FBM KLCI had increased by 9.57 points to 1,478.01, from Wednesday’s close at 1,468.44.

The benchmark index opened 4.92 points higher at 1,473.36.

On the broader market, gainers led losers 188 to 81, while 180 counters were unchanged, 1,902 untraded and 21 others suspended.

Turnover stood at 132.21 million units worth RM60.82 million.

In a research note on Thursday, Malacca Securities Sdn Bhd said the market is expected to remain volatile, at least until the US Federal Open Market Committee meeting next week.

“Investors are waiting for more clarity from US Federal Reserve chair Jerome Powell on the interest rate decision. Currently, the market is pricing in a 75-basis-point rate hike.


“Meanwhile, geopolitical uncertainties could be capping the upside reward at this juncture,” it said.

As for commodities, crude oil ticked up to the US$94 (RM425.87) per barrel mark, while crude palm oil traded above RM3,800 per tonne, it said.

Among the heavyweights, Malayan Banking Bhd (Maybank) gained seven sen to RM8.92 and CIMB Group Holdings Bhd too rose by seven sen to RM5.46, Public Bank Bhd added four sen to RM4.48 and IHH Healthcare Bhd improved 10 sen to RM6.30, while Petronas Chemicals Group Bhd declined five sen to RM8.65.

Of the actives, SNS Network Technology Bhd gained one sen to 31 sen, Siab Holdings Bhd added one sen to 17.5 sen and Yew Lee Pacific Group Bhd too inched up by one sen to 26.5 sen, while Vinvest Capital Holdings Bhd edged up half a sen to 20 sen and NWP Holdings Bhd improved by half a sen too to 24.5 sen.

On the index board, the FBM Emas Index expanded 56.76 points to 10,531.96, the FBMT 100 Index ticked up 58.19 points to 10,275.19, the FBM Emas Shariah Index increased 38.11 points to 10,630.90 and the FBM 70 advanced 38.83 points to 12,747, while the FBM ACE was 12.32 points lower at 4,832.58.

Sector-wise, the Energy Index was 10.30 points stronger at 729.24, the Plantation Index perked 5.47 points to 6,950.51 and the Financial Services Index surged 129.71 points to 16,613.76, while the Industrial Products and Services Index eased 0.19 of a point to 181.56.-BERNAMA

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