Bursa Malaysia's key index rose in early trading today, driven by moderate buying momentum led by Maybank and CIMB.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index gained 1.27 points to 1,645.17 after opening 0.47 points higher at 1,644.37, compared to 1,643.9 when it closed yesterday.
In the broader market, gainers outnumbered losers by 276 to 172, while 354 counters were unchanged, 1,326 untraded and 22 others suspended.
Bernama reported a total volume of 446.38 million units worth RM163.60 million.
In today's research note, Malacca Securities Sdn Bhd expects continued buying support in the local equity market in line with the US stock market which tends towards the highest level and is supported by account improvement activities at the end of the year.
Meanwhile, the firm said traders were likely to focus on higher-than-expected November exports, which could boost export-related sectors.
"In fact, news about the distribution of Pharmaniaga vaccines is expected to stimulate the interest of logistics companies.
"While we are confident that rising commodity prices may support steel-related counters, the increase may be limited after several rounds of increases over the past few weeks," according to Malacca Securities.
Yesterday, the Ministry of International Trade and Industry (MITI) said Malaysia's trade surplus jumped 151.6% year-on-year to RM16.82 billion last month, the highest trade surplus for November recorded so far.
According to MITI, exports increased 4.3% year-on-year to RM84.43 billion during the month, registering year-on-year growth for three consecutive months, while imports declined 9% year-on-year to RM67.61 billion while total trade declined 2% to RM152.04 billion.
Among heavyweights, Maybank rose five sen to RM8.59, CIMB added three sen to RM4.33, Kuala Lumpur Kepong rose 26 sen to RM24.46, Public Bank added six sen to RM20.84, TNB rose four sen to RM10.62, while Dialog and Hap Seng Consolidated increased two sen to RM3.44 and RM8.58 respectively.
IHH Healthcare and Hong Leong Bank were flat at RM5.72 and RM18.60, respectively, Petronas Chemicals declined nine sen to RM7.40, while Top Glove and Hartalega declined four sen to RM6.22 and RM12.42 respectively.
Among actives, Metron rose one sen to 22.5 sen, Dynaciate gained half-a-sen to 13.5 sen, Fintech and Parkson were flat at eight sen and 20 sen respectively, AT Systematization declined half-a-sen to 19.5 sen and Melewar Industrial declined 1.5 sen. to 57 cents.
On the index board, the FBM Gold Index rose 12.45 points to 11,860.46, the FBMT 100 Index rose 9.88 points to 11,610.53, the FBM Gold Shariah Index rose 1.88 points to 13,257.63, the FBM 70 added 16.54 points to 15,214.03 and the FBM ACE added 47.57 points to 10,727.36.
Meanwhile, the Industrial Products and Services Index fell 0.31 points to 176.84, the Financial Services Index rose 51.23 points to 15,479.52 and the Plantation Index increased 15.79 points to 7,446.8.
