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On the broader market, losers led gainers 173 to 179, while 272 counters were unchanged, 1,630 untraded and 13 others suspended. ― Picture by Hari Anggara
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KUALA LUMPUR, April 11 — Bursa Malaysia continued Friday’s gains to open higher today, lifted by positive market sentiment as investors follow the global equity markets.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.24 points better at 1,608.53 from Friday’s close of 1,607.29.
The barometer index opened 0.66 of-a-point higher at 1,607.95.
On the broader market, losers led gainers 173 to 179, while 272 counters were unchanged, 1,630 untraded and 13 others suspended.
Total turnover stood at 266.93 million worth RM68.47 million.
In a note, Malacca Securities Sdn Bhd said investors should favour stocks under the recovery-theme, while avoiding the technology sector.
“Meanwhile, several economic releases for this week include the US inflation rate and the European Central Bank interest rate decision which will be released on April 12 and 14, respectively,” it said.
Commodity-wise, it noted that crude oil hovered above US$100, while crude palm oil (CPO) was traded firmer above RM5,900.
The firm expects investors to favour consumer, tourism, building material stocks in anticipation of improving economic activities. Besides, the plantation sector is expected to stay firm amid recovery FCPO price.
“However, the technology sector should see cautious trading following the decline on Nasdaq overnight amid expectation of a more hawkish tone from the Federal Reserve on the monetary policies going forward,” it added.
Among the heavyweights, Maybank added three sen to RM8.88, IHH Healthcare rose four sen to RM6.49, Public Bank flat at RM4.68, while Petronas Chemicals lost eight sen to RM10.22 and CIMB slipped four sen to RM5.31.
Of the actives, VSolar and Brahims fell half-a-sen each to one sen and three sen, respectively, Yong Tai and Matang rose half-a-sen each to 12.5 sen and 11 sen, respectively, while Tanco increased 6.5 sen to 54.5 sen.
On the index board, FBMT 100 Index added 7.68 points to 11,208.30, FBM Emas Index was 10.04 points higher at 11,561.63, and FBM Emas Shariah Index gained 19.87 points to 12,222.46, FBM 70 advanced 5.60 points to 14,009.45, and FBM ACE inched up 0.08 of-a-point to 5,861.56.
Sector-wise, the Industrial Products and Services Index inched down 0.06 of-a-point to 214.41, the Financial Services Index slipped 7.04 points to 16,775.29, while the Plantation Index rose 42.28 points to 8,395.88. — Bernama