KUALA LUMPUR, March 7 (NNN-Bernama) — Bursa Malaysia, the stock exchange of Malaysia, rebounded to open slightly higher Tuesday ahead of Bank Negara Malaysia’s (central bank) interest rate decision in the next two days.
At 9.07 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) inched up 0.88 of-a-point to 1,453.56 from yesterday’s close of 1,452.68.
The key index opened 1.29 points better at 1,453.97.
Market breadth was positive with gainers surpassing decliners 150 to 135, while 228 counters were unchanged, 1,717 untraded and 11 others suspended.
Turnover amounted to 185.14 million units worth RM658.42 million (US$1 = RM4.47).
Malacca Securities Sdn Bhd said investors, however, would remain cautious awaiting the United States (US) Federal Reserve chairman Jerome Powell’s comment prior to the congressional testimony.
“Investors are in a risk-off mode prior to the congressional testimony in the US,” it said.
On its sector focus, the brokerage said the energy sector may extend its gains from the previous session as crude oil prices were pushed higher.
“Besides, sectors such as banking, REITs (real estate investment trusts) and consumer, especially the poultry stocks, might be in focus as investors might be looking for fresh catalysts to trade for the near term,” it said.
Among the heavyweight counters, Maybank climbed two sen to RM8.71, Public Bank increased one sen to RM4.11, and Tenaga Nasional was flat at RM9.34, while CIMB and Petronas Chemicals slipped one sen each to RM5.58 and RM7.29, respectively.
Among the active stocks, Hong Seng edged up half-a-sen to 14.5 sen, Minda Global and Jade Marvel perked one sen each to 14 sen and 31.4 sen, respectively, Velesto Energy was unchanged at 24 sen, and Boustead Holdings gave up half-a-sen to 85.5 sen.
On the index board, the FBM Emas Index ticked up 7.23 points to 10,606.20, the FBM 70 Index garnered 6.09 points to 13,513.12, the FBMT 100 Index advanced 5.83 points to 10,281.67 and the FBM Emas Shariah Index gained 5.03 points to 10,858.49, and the FBM ACE Index slid 16.38 points to 5,460.90.
Sector-wise, the Financial Services Index increased 14.69 points to 16,120.65, the Plantation Index grew 5.78 points to 6,884.96, and the Energy Index added 2.65 points to 892.60.
The Industrial Products and Services Index inched up 0.42 of-a-point to 178.57.
