September 23, 2021

After Continued Dipping, Bursa Malaysia Trading Returned Positive

Heading into the end of the trading week, Bursa Malaysia appears to have seen a surge with a higher opening in today’s trading session deck due to Wall Street’s better overnight performance.

At 9.59am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index climbed 6.55 points to 1,535.57 after trading 3.31 points higher at 1,532.33 this morning.

On the broader market, gainers outnumbered losers by 334 out of 159, while 310 counters were unchanged, 1,499 untraded and five others suspended.

Malacca Securities said that the current sentiment of the FBM KLCI was seen to be slightly uplifting following the positive impact by Wall Street yesterday and the proposed opening of three more holiday destinations.

In addition, it is also influenced by the latest news from the government stating that the reopening of the border between the states is expected to be implemented if the adult vaccination rate has reached 90%.

Gradually the economic sector reopened giving a brighter reaction to the economic recovery and as a result, investors are likely to focus more on aviation, tourism and consumer stocks.

Not to be outdone, telco -related stocks are likely to continue to rise today in line with plans on the National Digital Network (JENDELA).

For heavyweights, Maybank rose one sen to RM8.11, Public Bank and IHH Healthcare gained two sen each to RM4.06 and RM6.65.

Meanwhile, Petronas Chemicals jumped three sen to RM8.08 and Petronas Gas declined eight sen to RM16.82.

For active stocks, Bintai Kinden rose three sen to 68 sen, Opcom 'rocketed' five sen to RM1.16, KNM rose half -a -sen to 23.5 sen and TFP Solutions fell 1.5 sen to 14.5 sen.

On the index board, FBMT 100 climbed 30.06 points to 10,967.52, FBM 70 jumped 43.06 points to 14,949.99 and FBM ACE climbed 61.43 points to 7,168.87.

The FBM Emas index rose 34.14 points to 11,267.25 and the FBM Emas Shariah index added 38.31 points to 12,281.98.

By sector, the Financial Services index rose 55.65 points to 15,209.51, the Industrial Products and Services index rose 1.41 points to 199.63 and the Plantation index hovered 9.13 points to 6,283.85.