Bursa Malaysia is against regional trends when it opened high this morning driven by buying support for Top Glove index-linked counters.
At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) market indicator rose 4.22 points to 1,627.11 after opening 2.55 points higher at 1,625.4.
According to Bernama, Top Glove increased its composite index by 1,272 points after adding eight sen to RM6.68 with 1.99 million shares changing hands.
The Employees Provident Fund (EPF) yesterday sold another 7.15 million shares in Top Glove, reducing its stake in the world's largest maker of medical gloves to 5.63 per cent.
The retirement fund sold its shares in a single tranche on December 2nd.
Meanwhile, most local bourses are in a downward trend due to concerns over the increase in Covid-19 cases.
The Hong Kong Hang Seng Index fell 1.23 per cent to 26,506.85, the Japanese Nikkei Index declined 0.25 per cent to 26,482.2, however the Singapore Straits Times Index added 0.09 per cent to 2,828.18.
Globally, the overall market on Bursa Malaysia was positive with gainers outpacing losers by 391 to 181, while 353 counters were unchanged, 1,198 untraded and 19 others suspended.
Turnover stood at 709.18 million units worth RM294.61 million.
Malacca Securities Sdn Bhd expects buying support to exist on construction companies, construction materials as well as transportation and logistics today following the easing of the Conditional Movement Control Order (PKPB) measures.
"We are confident that market players may be looking for opportunities in the aviation, tourism and gaming sectors.
"Meanwhile, construction stocks and building materials may return attractive as traders expect several contracts to be awarded in the future following the approval of the 2021 Budget," the research firm said in a note today.
Among heavyweights, Maybank added one sen to RM8.28, Public Bank rose 10 sen to RM18.70, Tenaga and Hartalega added four sen to RM10.94 and RM6.68, respectively, but Petronas Chemicals declined six sen. to RM7.54.
Among active stocks, Yong Tai rose 1.5 sen to 40 sen, AT Systematization and P.A Resources added half-a-sen to 19.5 sen and 18.5 sen, respectively, while Nexgram and Kanger declined half-a-sen each to 5.5 sen and 17.7 sen, respectively.
On the index board, the FBM Emas Index rose 44.08 points to 11,806.41, the FBMT 100 Index rose 42.54 points to 11,557.55, and the FBM Emas Shariah Index gained 50.85 points to 13,546.43.
The FBM 70 Index jumped 105.6 points to 15,436.56 and the FBM ACE Index rose 63.66 points to 10,710.82.
Meanwhile, the Industrial Products and Services Index fell 0.39 points to 175.13, the Plantation Index rose 40.8 points to 7,397.52 and the Financial Services Index gained 31.67 points to 14,660.06.
