Bursa Malaysia opened higher this morning, taking cues from global stocks that have reached new heights after Joe Biden was sworn in as the 46th President of the United States.
At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) key indicator index strengthened 4.13 points to 1,598.93 from 1,594.8 when it closed yesterday.
Bernama reported that the key index opened higher by 1.26 points to 1,596.06.
In the broader market, losers outnumbered gainers by 194 to 189 while 270 counters were unchanged, 469 untraded and 32 others suspended.
According to Public Investment Bank, the FBM KLCI may end this week in a more positive tone following Biden's appointment after investors welcomed the 46th US president's promise for a $ 1.9 trillion stimulus expenditure.
The S&P 500 index is up 0.03%, the Nasdaq is up 0.55% and the Dow Jones is down 0.04%.
"Following his appointment, President Biden immediately repealed several previous actions of former president Donald Trump, signed an order to rejoin the Paris climate agreement, halted the US withdrawal from the World Health Organization (WHO) and lifted the ban on entry into the country by citizens from several countries with the majority are Muslims, ”the investment bank said in a note today.
Among heavyweights, Maybank rose four sen to RM8.09, Public Bank added 12 sen to RM21.68, Tenaga rose three sen to RM9.91, Top Glove strengthened eight sen to RM6.10 and PChem was flat at RM7. 35.
The most active counter, KTG rose half-a-sen to 25 sen, while Trading Nexchange and XOX were unchanged at 25.5 sen and 9.5 sen, respectively.
Meanwhile, DGB Asia eased half a sen to 10 sen.
On the index board, the FBM Emas Index rose 25.53 points to 11,558.9, the FBMT 100 Index rose 23.9 points to 11,293.21 and the FBM Emas Syariah Index gained 35.75 points at 13,021.43.
FBM 70 was 10.65 points higher at 14,833.17 and FBM ACE was up 14.85 points to 10,739.31.
By sector, the Financial Services Index rose 20.28 points to 14,907.07, the Plantation Index rose 6.57 points to 7,237.49, while the Industrial Products and Services Index declined 0.01 points to 177.88.
