Bursa opens higher following Wall Street gains

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KUALA LUMPUR (Oct 31): Bursa Malaysia recouped last Friday’s losses to open higher on Monday (Oct 31), tracking Wall Street’s rally overnight, ahead of the November meetings of the US Federal Open Market Committee and Bank Negara Malaysia.


The benchmark FBM KLCI rose 6.10 points to 1,453.41 in 10 minutes, from last Friday’s close at 1,447.31.

The market bellwether opened 3.63 points higher at 1,450.94.

On the broader market, gainers outpaced losers 279 to 107, while 259 counters were unchanged, 1,717 untraded, and 66 others suspended.

Turnover stood at 282.44 million units worth RM114.74 million.

Malacca Securities Sdn Bhd said Wall Street surged sharply as the Dow Jones rallied by 2.6%, driven by gains in Apple following the stronger-than-expected earnings.

Investors may continue to monitor a series of events this week, including the interest rate decisions by the US Federal Reserve and Bank of England, to gauge the economic outlook and market directions going forward.


“On the local front, we believe investors’ focus may shift to the 15th general election theme at least in the near term. Commodities-wise, crude oil traded above US$95 per barrel, while the crude palm oil price tumbled below RM4,000 per tonne,” it said in a note on Monday.

Among the heavyweights, Malayan Banking Bhd (Maybank) added five sen to RM8.63, Public Bank Bhd rose nine sen to RM4.47, Petronas Chemicals Group Bhd gained eight sen to RM8.86, CIMB Group Holdings Bhd increased three sen to RM5.59, and IHH Healthcare Bhd was seven higher at RM6.02.

Among the actives, Ta Win Holdings Bhd was up half a sen to 7.5 sen, Tanco Holdings Bhd gained two sen to 37 sen and Top Glove Corp Bhd too bagged two sen to 81 sen, while Jade Marvel Group Bhd lost half a sen to 28.5 sen, and Harvest Miracle Capital Bhd was flat at 13 sen.

On the index board, the FBM Emas Index gained 90.88 points to 10,366.28, the FBM 70 added 96.35 points to 12,332.93, and the FBMT 100 Index increased by 93.40 points to 10,108.25.

The FBM Emas Shariah Index went up 85.11 points to 10,407.62, while the FBM ACE widened 29.09 points to 4,910.39.

Sector-wise, the Financial Services Index jumped 144.68 points to 16,530.72 and the Energy Index ticked up 1.39 points to 698.96, the Industrial Products and Services Index improve 1.30 points to 176.75, and the Plantation Index earned 31.34 points to 6,874.39.-BERNAMA

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