Bursa Malaysia opened on a positive trajectory, with the FBM KLCI rising by 1.50 points to 1,630.96. Gainers surpassed losers with 278 stocks advancing. The energy sector is expected to benefit from rising crude oil prices, alongside investment opportunities in data centers. Key economic indicators are forthcoming, and the market is seeing active trading in various sectors including financial services and plant sectors related to Malaysia’s economy.
Bursa Malaysia commenced the trading week on a positive note, reflecting the uptick in Wall Street following increased interest in technology stocks. As of 9:10 AM, the FTSE Bursa Malaysia KLCI (FBM KLCI) was recorded at 1,630.96, representing an increase of 1.50 points from the previous closing of 1,629.46. The index initially started at 1,629.74, reflecting an opening rise of 0.28 points.
In terms of market dynamics, gainers outnumbered losers, with 278 stocks advancing against 159 that declined. There were 361 stocks unchanged, 1,555 untraded, and 10 that were suspended. The turnover reached 318.51 million units, equating to a total value of RM181.36 million.
The firm opening follows the announcement of Singapore’s Prime Minister’s visit to Malaysia, aimed at formalizing the Johor-Singapore Special Economic Zone (JS-SEZ), which has encouraged trading in Johor-related equities. Malacca Securities Sdn Bhd anticipates that the recent crude oil price hikes will create ongoing opportunities in the Energy sector while investments in data centers are expected to enhance earnings in the construction, building materials, and utilities sectors.
Investors this week will pay attention to critical economic indicators, including the Eurozone Consumer Price Index (CPI), China’s CPI, and the Institute for Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI). Heavyweights such as Maybank and Tenaga Nasional saw minor gains, increasing by two sen to RM10.16 and RM14.62 respectively. Public Bank rose three sen to RM4.53, whereas CIMB remained stable at RM8.11. Conversely, IHH Healthcare recorded a decline of seven sen, settling at RM7.21.
In the realm of active trading, Velocity Capital and Careplus each climbed one sen to reach 8.0 sen and 27 sen, respectively, while Harvest Miracle increased by 1.5 sen to 20.5 sen. MYEG gained half a sen to 99 sen, whereas Aimflex saw a dip of half a sen, now priced at 15 sen.
The broader indices reflected a collective gain, with the FBM Emas Index rising by 28.73 points to 12,562.37, and the FBM Emas Shariah Index up by 22.27 points to 12,568.76. Furthermore, the FBMT 100 Index experienced a rise of 27.02 points, reaching 12,229.91. The FBM 70 Index advanced by 100.18 points to 18,967.52, while the FBM ACE Index expanded by 17.33 points to 5,489.89. Sector performance showed the Energy Index advancing by 5.56 points to 856.86, and the Financial Services Index increased by 32.80 points to 19,055.87, indicating a positive market sentiment overall.
Bursa Malaysia opened higher, buoyed by Wall Street’s advances, particularly in technology stocks. Improved performance was observed across many sectors and indices, with significant trading activity reflecting trader interest in Johor-related counters and energy opportunities. As investors await key economic data releases, the market appears poised for continued gains, underscored by sector-specific developments and external influences, particularly from the crude oil market.
Original Source: www.bernama.com
