KUALA LUMPUR – Bursa Malaysia opened higher today, extending last week’s gains, driven by continued buying demand in selected heavyweights and in line with the positive performance of some of the regional markets, dealers said.
At 9.55am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.09 points to 1,535.28 from Friday's close of 1,531.73. It opened 2.48 points higher at 1,534.21.
On the broader market however, losers slightly led gainers 349 to 320, while 387 counters were unchanged, 1,233 untraded and 27 others suspended.
Turnover amounted to 912.31 million units worth RM475.94 million.
Malacca Securities Sdn Bhd, in a research note, said the positive momentum from the US stock markets, which rallied as investors cheered the job market recovery, and the positive data on Covid-19 pills, should spill over onto the local bourse over the longer term.
The FBM KLCI finished the week with marginal gains on the back of final hour bargain-hunting activities, but broader market sentiment was negative. We think investors may pay attention to fundamentally solid companies with bright earning prospect prior to the upcoming earnings season such as the technology stocks,” it said.
Among the heavyweights, Maybank and CIMB added 1.0 sen each to RM8.02 and RM5.08, respectively, while Public Bank, Petronas Chemicals and IHH Healthcare were flat at RM4.03, RM8.30 and RM6.58, respectively.
Of the actives, Ecomate gained 17 sen to 50 sen, NWP Holdings perked 3.5 sen to 35.5 sen, CSH Alliance went up 1.0 sen to 12.5 sen, while TA Win eased half-a-sen to 14.5 sen.
On the index board, the FBM Emas Index increased 13.24 points to 11,377.37, the FBMT 100 Index climbed 13.04 points to 11,003.97, the FBM Emas Shariah Index advanced 12.65 points to 12,424.39, while the FBM ACE slipped 54.25 points to 7,070.24 and the FBM 70 weakened by 45.18 points to 15,067.34.
Sector-wise, the Industrial Products and Services Index edged up 0.38 of-a-point to 202.94, the Plantation Index expanded 26.43 points to 6,753, and the Financial Services Index was 5.59 points higher at 15,172.47. – Bernama, November 8, 2021
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