KUALA LUMPUR, Oct 6 (Bernama) — The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) opened higher today, in tandem with the positive overnight performance of Wall Street.
At 9.47 am, the key index rose 12.28 points to 1,659.87, after opening 11.39 points better at 1,658.98.
JF Apex Securities expects the FBM KLCI to test its critical resistance of 1,670 points today following the rally on Wall Street.
It said the US market surged over 1.5 per cent as last Friday’s weaker jobs data could prompt the Federal Reserve (Fed) to postpone any rate hike to next year.
“Similarly, European stocks rallied over 2.5 per cent as the US employment report could see the Fed keep the record low interest rate for the rest of the year,” it added.
On the local front this morning, market breadth was positive as gainers outpaced decliners 398 to 136, while 220 counters were unchanged, 1,044 untraded and 17 others suspended.
Turnover stood at 528.80 million shares worth RM239.41 million.
The FBM Emas Index increased 75.47 points to 11,440.70, the FBMT100 was up 74.20 points to 11,151.59, with the FBM Emas Shariah 84.84 points higher at 12,162.50.
The FBM 70 rose 51.91 points to 12,410.82 and the FBM Ace bagged 96.77 points to 5,784.47.
On a sectoral basis, the Finance Index climbed 105.05 points to 14,226.81 and the Industrial Index garnered 34.84 points to 3,254.54, as the Plantation Index improved 23.72 points for 7,350.34.
Of the heavyweights, MISC jumped 22 sen to RM8.97, Sime Darby gained nine sen to RM8.21, Petronas Chemicals added six sen to RM6.17, Public Bank advanced 12 sen to RM18.30 and Maybank expanded four sen to RM8.64.
Among the actively-traded stocks were XOX which added one sen to 13.5 sen, Aemulus increasing 1.5 sen to 59.5 sen, Frontken inching up half-a-sen to 17.5 sen,while Instacom was flat at 21 sen and The Media Shoppe declined one sen to 10.5 sen.