Bursa Malaysia opens higher tracking Wall Street gains

On the broader market, gainers outpaced losers 279 to 107, while 259 counters were unchanged, 1,717 untraded, and 66 others suspended. ― Picture by Razak Ghazali

Monday, 31 Oct 2022 9:55 AM MYT

KUALA LUMPUR, Oct 31 — Bursa Malaysia recouped last Friday’s losses to open higher on Monday, tracking Wall Street’s rally overnight ahead of Federal Open Market Committee and Bank Negara Malaysia’s (BNM) November meetings.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.10 points to 1,453.41 after 10 minutes, compared to Friday’s close of 1,447.31.

The market bellwether opened higher by 3.63 points at 1,450.94.

On the broader market, gainers outpaced losers 279 to 107, while 259 counters were unchanged, 1,717 untraded, and 66 others suspended.

Turnover stood at 282.44 million units worth RM114.74 million.

Malacca Securities Sdn Bhd said Wall Street surged sharply higher as the Dow Jones Index rallied by 2.6 per cent, driven by gains in Apple following the stronger-than-expected earnings.

Investors may continue to monitor a series of events this week including the interest rate decision by the US Federal Reserve and Bank of England to gauge the economic outlook and market directions going forward.

“On the local front, we believe investors’ focus may shift to the 15th General Election theme at least for the near term. Commodities-wise, crude oil traded above US$95 per barrel while the crude palm oil (CPO) price tumbled below RM4,000 per tonne,” it said in a note today.

Among the heavyweights, Maybank added 5.0 sen to RM8.63, Public Bank rose 9.0 sen to RM4.47, Petronas Chemicals gained 8.0 sen to RM8.86, CIMB increased 3.0 sen to RM5.59 and IHH Healthcare was 7.0 higher at RM6.02.

Among the actives, Ta Win was up half-a-sen to 7.5 sen, both Tanco and Top Glove bagged 2.0 sen each to 37 sen and 81 sen respectively, while Jade Marvel lost half-a-sen to 28.5 sen and Harvest was flat at 13 sen.

On the index board, the FBM Emas Index gained 90.88 points to 10,366.28, the FBM 70 added 96.35 points to 12,332.93 and the FBMT 100 Index increased by 93.40 points to 10,108.25.

The FBM Emas Shariah Index went up 85.11 points to 10,407.62 while the FBM ACE widened 29.09 points to 4,910.39.

Sector-wise, the Financial Services Index jumped 144.68 points to 16,530.72 and the Energy Index ticked up 1.39 points to 698.96, the Industrial Products and Services Index improve 1.30 points to 176.75 and the Plantation Index earned 31.34 points to 6,874.39. — Bernama

Leave a Reply

Your email address will not be published. Required fields are marked *