Bursa Malaysia slightly higher in early trade
KUALA LUMPUR,. Bursa Malaysia was marginally higher on Monday morning, thanks to bargain-hunting activities following the recent sell-offs, despite some weak sentiments due to external factors.
At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 0.44 of-a-point to 1,423.36 from 1,422.92 at last Friday’s close.
However, the broader market saw decliners edging past advancers at 144 to 136, while 250 counters were unchanged, 1,727 untraded and 28 others suspended.
Turnover stood at 128.74 million units worth RM48.69 million.
Malacca Securities Sdn Bhd said the overall market sentiment may remain vulnerable amidst global economic concerns, as investors await the Eurozone’s inflation rate data this week.
The brokerage also noted that traders are focusing on the United States’ debt ceiling negotiations this week.
“Although bargain hunting activities may kick in on the local bourse amidst the release of earnings reports, the upside could be limited in the near-term,” it said in a note today.
As for commodities, Malacca Securities expects the Brent crude oil price to hover above US$74, while the crude palm oil traded slightly below RM3,650 per tonne and the gold price continued to stay above US$2,000 per ounce.
Among the heavyweights, Maybank, CIMB and CelcomDigi gained one sen each to RM8.70, RM4.96 and RM4.49, respectively, and Petronas Chemicals bagged four sen to RM7.07, while Public Bank eased one sen to RM3.96, and Tenaga lost 10 sen to RM9.36.
As for the actives, Classita and Revenue Group inched up half-a-sen each to 16.5 sen and 33 sen, respectively, and Jade Marvel perked one sen to 28 sen, while SMRT Holdings slipped half-a-sen to 64.5 sen.
On the index board, the FBM Emas Index advanced 3.39 points to 10,419.05, the FBMT 100 Index gained 2.22 points to 10,113.61, the FBM Emas Shariah Index picked up 2.27 points to 10,778.19 and the FBM ACE Index rose 10.91 points to 4,995.39, while the FBM 70 index trimmed 1.04 points to 13,487.12.
Sector-wise, the Industrial Products and Services Index inched up 0.22 of-a-point to 167.34, the Financial Services Index earned 9.89 points to 15,523.17 and the Plantation Index increased by 3.41 points to 6,960.07, while the Energy Index decreased by 2.55 points to 826.84. — Bernama
