Bursa Malaysia opened higher today, in line with most of the performance of the Asian market, supported by growing confidence in strong economic prospects.
At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 18.76 points to 1,595.38 from 1,576.62 when it closed on Monday.
According to Bernama, the index opened 13.97 points higher at 1,590.59.
In the broader market, gainers outnumbered losers by 455 to 156 while 301 counters were unchanged, 1,231 counters untraded and 17 others suspended.
Turnover stood at 764.20 million units worth RM445.70 million.
According to Malacca Securities, the sale at the FBM KLCI yesterday could be excessive as the Director General of Health, Tan Sri Dr Noor Hisham Abdullah has eased concerns over the possibility of a Movement Control Order (PKP) 3.0 thus, the overall market could record a recovery today.
"Regarding glove-related stocks, we are confident that Hartalega's positive financial performance will have an impact on the overflow of buying support for glove makers and glove proxies today.
"However, investors can remain cautious before the Malaysian Producer Price Index (CPI) data is released tomorrow. As foreign funds shift to a selling situation, the increase is expected to face profit-taking activities in the near term, ”he said in a research note today.
Among heavyweights, Public Bank added 21 sen to RM4.47, Maybank rose 8.0 sen to RM7.96, Petronas Chemicals added 2.0 sen to RM6.92, TNB added 13 sen to RM9.78 while Top Glove declined 6.0 sen to RM6.46.
For active stocks, Fintec rose half-a-sen to 8.0 sen, Key Asic and QES rose 2.0 sen to 11 sen and 38.5 sen, respectively, while DNeX was flat at 30 sen.
On the index board, the FBM Emas Index increased 125.19 points to 11,515.74, the FBMT 100 Index jumped 123.59 points to 11,258.59 and the FBM Emas Syariah Index rose 66.58 points to 12,959.16.
FBM 70 added 126.52 points to 14,750.74 and FBM ACE increased 111.32 points to 10,781.57.
By sector, the Financial Services Index jumped 274.76 points to 14,839.50, the Plantation Index added 31.31 points to 7,215.77 while the Industrial Products and Services Index rose 0.88 points to 171.68.
