KUALA LUMPUR: Bursa Malaysia opened higher on Wednesday, supported by resilient domestic fundamentals, although cautious sentiment amid the ongoing earnings season might cap gains.
At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.86 points to 1,739.19 from Monday’s close of 1,736.33. The market was closed on Tuesday in conjunction with Prophet Muhammad’s birthday.
The benchmark index opened 3.07 points higher at 1,739.40.
Market breadth was positive, with gainers outnumbering losers 203 to 184. A total of 332 counters were unchanged, 2,135 untraded and 49 suspended.
Turnover was at 180.39 million shares worth RM141.92 million.
Apex Securities Bhd said the FBM KLCI is expected to trade cautiously with a mildly positive bias, driven by resilient domestic fundamentals.
The ongoing earnings season is, however, likely to keep investors selective, with corporate results and company developments driving individual stock performance.
“Meanwhile, easing US Treasury yields and lower geopolitical tensions may provide some relief to risk sentiment, although external uncertainties could continue to cap market upside.
“Overall, we expect trading to remain selective, with stronger earnings likely to provide the key catalyst for individual counters and the broader market,” it said in a note.
Among the heavyweights, Maybank added two sen to RM10.58, while Public Bank and CIMB Group advanced four sen each to RM5.14 and RM8, respectively. Tenaga Nasional lost eight sen to RM14.22, while IHH Healthcare was flat at RM8.15.
On the most active list, NationGate was up 11 sen to RM1.60, while Ni Hsin and Asteel were 1.5 sen higher at 16 sen and nine sen, respectively. Zetrix AI edged up one sen to 66.5 sen and VS Industry was half a sen higher at 22.5 sen.
Top gainers included Malaysian Pacific Industries, which surged 34 sen to RM41.84, while Nestle and Allianz Malaysia jumped 20 sen each to RM104.20 and RM21.90, respectively. Plenitude put on nine sen to RM1.60 and Vitrox Corporation gained eight sen to RM9.08.
Among the top losers, Batu Kawan shed 40 sen to RM20.60, United Plantations and Hong Leong Bank slid 20 sen each to RM31.92 and RM22.76, respectively. Kuala Lumpur Kepong slipped 14 sen to RM21.78 and Petronas Dagangan gave up 12 sen to RM19.88.
For the broader indices, the FBM ACE Index rose 10.61 points to 5,309.19, the FBM 70 Index climbed 30.28 points to 18,099.53, and the FBM Emas Shariah Index increased 14.47 points to 12,643.84.
The FBM Emas Index improved 22.19 points to 12,840.79, while the FBM Top 100 Index gained 20.89 points to 12,656.68.
By sector, the Financial Services Index leapt 45.67 points to 20,316.09, while the Industrial Products and Services Index edged up 0.05 of-a-point to 187.11.
However, the Plantation Index fell 27.93 points to 9,482.50, while the Energy Index erased 3.96 points to 773.48. – BERNAMA
