KUALA LUMPUR – Bursa Malaysia rebounded from yesterday’s losses to open higher today, in line with most Asian markets, supported by growing optimism on the bullish economic outlook, dealers said.
At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 18.76 points to 1,595.38 from 1,576.62 at yesterday’s close.
The index opened 13.97 points higher at 1,590.59.
On the broader market, gainers led losers 455 to 156, while 301 counters were unchanged, 1,231 untraded and 17 others suspended.
Total volume stood at 764.20 million units worth RM445.7 million.
Malacca Securities said the selling on the FBM KLCI yesterday could have overdone as Health Director-General Tan Sri Dr Noor Hisham Abdullah brushed off concerns over MCO3.0 and broader market could perform a relief rebound today.
“On the glove-related stocks, we believe Hartalega’s upbeat results could spill over to buying support on glove manufacturers and glove proxies today.
“However, investors could stay cautious ahead of the release of Malaysia’s Producer Price Index tomorrow. As foreign funds turned into the selling mode, we expect the rebound might face with profit-taking activities in the near term,” it said in a research note today.
Among the heavyweights, Public Bank added 21 sen to RM4.47, Maybank gained eight sen to RM7.96, Petronas Chemicals advanced two sen to RM6.92, TNB increased 13 sen to RM9.78, while Top Glove slipped six sen to RM6.46.
Of the actives, Fintec earned half-a-sen to eight sen, Key Asic and QES improved two sen to 11 sen and 38.5 sen, respectively, while DNeX was flat at 30 sen.
On the index board, the FBM Emas Index went up 125.19 points to 11,515.74, the FBMT 100 Index jumped 123.59 points to 11,258.59, and the FBM Emas Shariah Index was 66.58 points higher at 12,959.16.
The FBM 70 surged 126.52 points to 14,750.74 and the FBM ACE increased 111.32 points to 10,781.57.
Sector-wise, the Financial Services Index soared 274.76 points to 14,839.50, the Plantation Index perked 31.31 points to 7,215.77 and the Industrial Products and Services Index earned 0.88 of a point to 171.68. – Bernama, January 26, 2021
