KUALA LUMPUR: Bursa Malaysia rebounded to open higher today, tracking the strong gains on Wall Street in anticipation of the earnings season, a dealer said.
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At 9.10am, the key index rose 1.48 points to 1,419.92 from Friday’s close of 1,418.44. It opened 2.45 points higher at 1,420.89.
On the broader market, gainers led losers 190 to 116, while 199 counters were unchanged, 1,782 not traded and 20 others suspended.
Turnover stood at 122.71 million units worth RM50.55 million.
Malacca Securities Sdn Bhd said recession fears would continue to permeate investors’ sentiment in the near term following the strong gains on Wall Street.
“The investors will likely keep an eye on the European Central Bank’s meeting and Malaysia’s inflation data later this week,” it said in a note today.
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“Traders may stay cautious as the oil price was pressured due to recession fears, albeit that Brent oil has rebounded above the US$100 level,” it added.
Among the heavyweights, Maybank and IHH Healthcare were flat at RM8.59 and RM6.43, respectively, Petronas Chemicals added a sen to RM8.12, CIMB Group gained five sen to RM5.10, and Public Bank eased two sen to RM4.38.
As for the actives, Ecoscience International lost three sen to 27 sen, BSL Corporation edged up a sen to 11 sen, Top Glove Corporation inched up 1.5 sen to RM1.01, Malaysian Genomics Centre rose two sen to RM1.09, and MQ Technology was flat at 3.5 sen.
On the index board, the FBM Emas Index went up 19.26 points to 10,067.15, the FBM Emas Shariah Index increased 28.65 points to 10,111.00, the FBM 70 was 55.68 points higher at 12,050.69, the FBMT 100 Index improved 18.44 points to 9,834.19, and the FBM ACE added 11.61 points to 4,571.44.
Sector-wise, the financial services index gained 11.85 points to 16,091.54, the industrial products and services index was 0.14 point lower at 166.87, the energy index rose 1.79 points to 606.43, and the plantation index added 17.89 points to 6,673.62.- FMT