KUALA LUMPUR, Sept 29 — Bursa Malaysia opened higher today tracking Wall Street which closed broadly higher last week, said an analyst.
At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) ticked up 2.56 points to 1,611.61, from last Friday’s close of 1,609.50.
The benchmark index was 0.70 of-a-point higher at 1,609.75 at the opening.
Market breadth was positive, with gainers outnumbering losers 206 to 123, while 316 counters were unchanged, 2,003 untraded, and 124 suspended.
Turnover stood at 247.78 million units worth RM66.90 million.
Rakuten Trade vice-president Thong Pak Leng told Bernama that sentiment on Wall Street was boosted by the latest personal consumption expenditure (PCE) price index, which came in within expectations, ensuring that the US Federal Reserve (Fed) would stick to its easing policy.
Meanwhile, the US 10-year Treasury yield inched higher at 4.174 per cent.
In Hong Kong, the Hang Seng Index (HSI) continued to slide to just above the 26,000 level as traders became wary of its valuations amid the latest bouts of US President Donald Trump’s tariffs.
On the home front, he said the FBM KLCI surprisingly closed on a strong note due to late buying activities.
“We believe buying activities should persist as more foreign funds are looking for value propositions. We thus expect the index to trend within the 1,605-1,615 range today.
“Gold price has hit another record high and is ready to test US$3,800 per ounce,” said Thong.
Among heavyweights, Petronas Gas was 28 sen better at RM18.78, IHH Healthcare gained 11 sen to RM7.56, SD Guthrie rose seven sen to RM5.31, Maybank added four sen to RM9.93 and Public Bank increased two sen to RM4.36.
In active trade, EA Holdings and TWL were flat each at half-a-sen and 2.5 sen, respectively. MTouche Technology and Luster Industries strengthened by a sen each to 7.5 sen and 5.5 sen, respectively, and SNS Network Technology was 1.5 sen firmer at 68.5 sen.
Top gainers were Nestle, which perked up 94 sen to RM96.98; F&N, 30 sen to RM27.50; KESM Industries, 28 sen to RM18.78; followed by Petronas Gas; and Malaysian Pacific Industries, 24 sen to RM29.54.
Top losers were Pentamaster, down eight sen to RM3.72; Allianz, six sen to RM18.32; Kerjaya Prospek, six sen to RM2.41; PPB Group four sen to RM10.08; and Visdynamic, four sen to 22 sen.
On the broader market, the FBM Emas Index added 23.76 points to 12,017.20, the FBMT 100 Index gained 22.95 points to 11,747.99, the FBM Emas Shariah Index increased 15.00 points to 12,063.47, the FBM 70 Index climbed 51.58 points to 16,901.93, and the FBM ACE Index advanced 4.95 points to 5,205.41.
By sector, the Industrial Products and Services Index edged up 0.13 of-a-point to 173.89, the Energy Index gained 2.40 points to 784.92, the Financial Services Index ticked up 57.64 points to 18,241.48, and the Plantation Index appreciated by 37.66 points to 7,800.31.
