KUALA LUMPUR (July 12): Bursa Malaysia opened the week on a higher note, extending bargain-hunting activities from last Friday (July 9).
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.32 points to 1,522.9 from Friday’s close of 1,520.58.
The market bellwether opened 1.65 points better at 1,522.23.
On the broader market, gainers marginally led losers 197 to 149, while 263 counters were unchanged, 1,608 untraded, and 10 others suspended.
Turnover eased to 240.37 million units worth RM111.88 million.
Malacca Securities Sdn Bhd said investors are likely to remain cautious on lack of fresh leads and concerns over the ongoing political developments as well as the high Covid-19 infections which might overshadow the improvement in vaccination rates.
“Meanwhile, the market may watch (out for) Malaysia’s industrial production and retail sales data which will be released today. Commodities-wise, both the crude palm oil (CPO) and oil prices have seen a surge,” said the brokerage.
It also said the technology sector could be in focus given the positive overnight performance on Wall Street.
“We believe the lockdown situation in Malaysia is gradually easing and that may bode well for the recovery-themed stocks within the tourism, aviation, property and construction sector.
“Besides, the energy and plantation counters may trend mildly higher in line with the commodity prices,” it added.
Of the heavyweights, Malayan Banking Bhd eased two sen to RM8.11, Public Bank Bhd gained one sen to RM4.04, and Tenaga Nasional Bhd dropped three sen to RM9.66 while Petronas Chemicals Group Bhd, IHH Healthcare Bhd and CIMB Group Holdings Bhd were flat at RM8.06, RM5.61 and RM4.49, respectively.
Among the actives, Serba Dinamik Holdings Bhd increased 1.5 sen to 47 sen, YBS International Bhd surged 7.5 sen to 43 sen, Asdion Bhd declined 9.5 sen to 32 sen, and Managepay Systems Bhd added one sen to 26 sen.
On the index board, the FBM Emas Index was 22.18 points higher at 11,092.29, the FBMT 100 Index widened 21.84 points to 10,803.76, and the FBM Emas Shariah Index improved 21.63 points to 12,132.41.
The FBM ACE expanded by 50.58 points to 7,225.62 and the FBM 70 went up 50 points to 14,374.93.
Sector-wise, the Financial Services Index lifted 28.42 points to 14,984.05, the Industrial Products and Services Index edged up 0.22 of-a-point to 187.74, and the Plantation Index bagged 17.97 points to 6,308.4.
