What Is The Impact Of The FOMC Meeting On The Local Exchange?

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 At 9.52am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rebounded 3.23 points at 1,486.04 from Wednesday's close of 1,482.81.


It opened higher in the wake of tracking risk modes on the Wall Street market in reaction to the Federal Reserve’s (Fed) hawkish statement.


The index opened 2.65 points at 1,485.46.


On the broader market, investors saw gainers outnumber losers by 205 to 79, while 188 counters were unchanged, 1,843 untraded and 37 suspended.


Total turnover at 149.77 million units worth RM104.29 million.


A note issued by Malacca Securities Sdn Bhd said heavyweights of banking and healthcare led the rebound ahead of the outcome of the Federal Open Market Committee (FOMC) meeting earlier this morning.


He added that investors were focusing on the technology sector as a result of the Nasdaq's overnight rebound while all Sarawak -related stocks would soar following the election.



The commodity market saw the price of crude oil at US $ 73 or RM308.72 per barrel while the price of crude palm oil suffered losses.


Heavyweights saw Malayan Banking Bhd (Maybank) add 2 sen to RM8.12 while IHH Healthcare fell 1 sen to RM6.47.


Tenaga Nasional Bhd (TNB) declined 2 sen to RM9.27 while Public Bank Bhd and Petronas Chemicals Group Bhd (PetChem) remained at RM4.01 and RM8.61 respectively.


Active stocks saw Aurelius Technologies Bhd up 10 sen at RM1.46 and SMTrack Bhd driven 0.5 sen at 9 sen while ATA IMS Bhd and Malayan United Industries Bhd fell 0.5 sen at 69 sen and 6.5 sen. Top Glove remains at 4 cents.


Meanwhile, Bursa announced the change of Macpie Bhd's stock name to XOX Networks Bhd with the abbreviation XOXNet effective 9am on Friday.


On the index board, the FBM Emas index rose 31.78 points at 10,847.22, the FBMT 100 index added 28.68 points at 10,537.85 and the FBM Emas Shariah index jumped 36.13 points at 11,676.40.


FBM 70 ran 61.20 points at 14,000.50 and FBM ACE was strong 5.90 points at 6,204.03.


The Products and Services Industry Index added 0.56 points at 194.48, the Financial Services index rose 42.20 points at 15,149.12 and the Plantation index jumped 10.94 points at 6,397.98.

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