KUALA LUMPUR – Bursa Malaysia opened higher almost across the board in early trade today, led by mild buying in the financial services, industrial products and services and healthcare-related counters.
The performance on the local bourse was in line with its regional peers.
At 9.01am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.18 points to 1,512.84 from yesterday's close of 1,511.66.
The index opened 1.09 points better at 1,512.75.
On the broader market, gainers thumped losers 242 to 38, while 211 counters were unchanged, 1,618 untraded and 43 others suspended.
Total volume stood at 171.56 million units worth RM74 million.
Performance on the local bourse and its regional peers was tracking the Wall Street movement which started its week on a high note, on expectations that a stimulus package would be agreed upon soon.
The DJI Average climbed 410 points to above the 27,500 mark.
“Buoyed by the broad-based buying, we expect regional markets to maintain their uptrend today.
“Locally, we expect the FBM KLCI to maintain its ascension as interests on the pandemic-related stocks to continue garnering buying interests,” Rakuten Trade said in a note today.
The brokerage reckoned the benchmark index to challenge the 1,520 level today, hopefully breaking out from its prolonged consolidation mode.
Sector focus for today include the technology counters, according to Malacca Securities Sdn Bhd.
It noted that there were renewed buying interests in recent days due to the positive prospects.
The healthcare sector is also demonstrating baby steps of recovery as investors bargain hunt beaten-down stocks.
Among the heavyweights, Maybank gained two sen to RM7.12, Public Bank rose four sen to RM15.46, Top Glove was flat at RM8.77, and Hartalega was six sen higher at RM17.48.
Of the actives, Perak Transit and XOX inched up half-a-sen each to 29 sen and 18 sen, Ikhmas Jaya added one sen to 19 sen and Kanger International was 1.5 sen better at 22 sen.
On the index board, the FBM Emas Index improved 15.34 points to 10,902.63 and the FBM Emas Shariah Index bagged 9.31 points to 13,054.36.
The FBM 70 rose 51.22 points to 14,253.82, the FBMT 100 Index went up 16.02 points to 10,727.00 and the FBM ACE was 74.88 points stronger at 10,128.73.
Sector-wise, the Financial Services Index gained 29.90 points to 12,357.36, the Plantation Index added 6.22 points to 7,069.80 and the Industrial Products and Services Index edged up 0.35 of-a-point to 136.12. – Bernama, September 29, 2020
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