KUALA LUMPUR (April 28): Bursa Malaysia opened higher on Thursday (April 28), supported by bargain-hunting despite Wall Street’s softer performance.
-Advertisement-
At 9.05am, the benchmark FBM KLCI was 6.55 points firmer at 1,592.53 from Wednesday’s close at 1,585.98.
The index opened 7.64 points higher at 1,593.62.
On the broader market, there were 203 gainers and 94 losers, while 202 counters were unchanged, 1,791 untraded and 82 others suspended.
Total turnover stood at 196.37 million worth RM88.88 million.
Malacca Securities Sdn Bhd said Wall Street staged a mild recovery after coming off its intraday highs as the Dow Jones Index rose 0.2% on a barrage of mixed corporate earnings.
“While global uncertainties may still loom, the recovery-themed sector on the local bourse may gain traction as further relaxation of Covid-19 standard operating procedures effective May 1 could signal a greater extent of economic recovery,” the brokerage said in a note.
-Advertisement-
On the commodities market, the firm said the crude palm oil futures surged above RM6,900 per tonne following Indonesia’s decision to widen the scope of its export ban to include crude palm oil, while crude oil prices remained supported above US$100 (about RM435.95) per barrel.
Among Bursa heavyweights, Malayan Banking Bhd (Maybank) rose five sen to RM9.03, Petronas Chemicals Group Bhd added four sen to RM9.96, IHH Healthcare Bhd gained seven sen to RM6.64 and CIMB Group Holdings Bhd was up two sen at RM5.17, while Public Bank Bhd was flat at RM4.71.
Of the actives, MN Holdings Bhd increased 1.5 sen to 22.5 sen, Nestcon Bhd inched up one sen to 50.5 sen, Ajiya Bhd bagged three sen to RM1.17, while Anzo Holdings Bhd lost 1.5 sen to two sen and Pertama Digital Bhd slid one sen to 89.5 sen.
On the index board, FBM ACE increased 16.70 points to 5,587.47, FBM 70 improved 63.79 points to 13,592.58, the FBM Emas Index expanded 48.03 points to 11,385.83, the FBMT 100 Index strengthened 46.89 points to 11,044.57 and the FBM Emas Shariah Index climbed 50.72 points to 11,932.68.
Sector-wise, the Financial Services Index expanded 50.18 points to 16,850.20, the Industrial Products and Services Index was 0.46 of a point better at 206.63, and the Plantation Index increased 115.40 points to 8,833.60.-BERNAMA