Bursa opens slightly higher

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KUALA LUMPUR (Oct 19): Bursa Malaysia opened slightly higher on Wednesday (Oct 19), boosted by mild buying momentum for selected heavyweights.

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At 9.27am, the benchmark FBM KLCI index had gained 2.04 points to 1,402.40, from Tuesday’s close at 1,400.36. The key index opened 2.32 points higher at 1,402.68.

On the broader market, gainers surpassed decliners 233 to 170, while 260 counters were unchanged, 1,699 untraded and 18 others suspended.

Turnover stood at 315.96 million units worth RM148.78 million.

Malacca Securities Sdn Bhd said investors may shrug off some recession fears in the near term to position themselves in the ongoing third-quarter reporting season on Wall Street.

“Back home, we expect sentiment on the local bourse to stabilise once the 15th general election official date is announced later this week,” the brokerage said in a research note on Wednesday.

It added that buying interest may continue to build up in plantation counters, given the sustained crude palm oil price, while the technology sector may extend its rally as buying interest has been seen in the Nasdaq.

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“Meanwhile, we continue to like solid consumer and healthcare stocks,” said Malacca Securities.

Among the heavyweights, CIMB Group Holdings Bhd increased seven sen to RM5.32 and Maxis Bhd climbed four sen to RM3.50, while Press Metal Aluminium Holdings Bhd stood at RM4.23, Malayan Banking Bhd (Maybank) at RM8.53, Public Bank Bhd at RM4.22 and IHH Healthcare Bhd at RM5.99 after adding two sen each.

Of the actives, Harvest Miracle Capital Bhd edged up half a sen to 14 sen, Careplus Group Bhd grew two sen to 44.5 sen, and UEM Sunrise Bhd advanced 1.5 sen to 20.5 sen, while Hiap Huat Holdings Bhd was unchanged at 16 sen, and so were Top Glove Corp Bhd at 74 sen and Hong Seng Consolidated Bhd at 27 sen.

On the index board, the FBM Emas Index strengthened by 13.14 points to 9,988.04, the FBM 70 improved by 19.41 points to 12,025.56, the FBMT 100 Index increased by 14.51 points to 9,736.26, the FBM Emas Shariah Index fell 9.01 points to 10,025.77, and the FBM ACE bagged 2.59 points to 4,755.76.

Sector-wise, the Financial Services Index was 75.29 points higher at 15,968.62, the Industrial Products and Services Index rose 0.49 of a point to 171.35, the Plantation Index eased 7.23 points to 6,609.44, and the Energy Index fell 3.39 points to 667.38.-BERNAMA


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