Bursa Malaysia Opened Slightly Higher, Trailing Wall Street's Rise


 Today, Bursa Malaysia opened slightly higher in the early trading session after ending a 5-day winning streak yesterday as investors were still waiting for the latest US inflation data to be published.

At 9am this morning, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.31 points to 1,491.17 from 1,486.86 on Wednesday yesterday. It opened 0.29 points higher at 1,487.15 recently.

Overall, the market moved in positive sentiment where gainers outnumbered losers by 189 versus 145. Meanwhile, 291 counters were unchanged, 1,593 counters were not traded and 29 others were suspended.

The total turnover was 293.88 million units worth RM113.12 million.

According to Rakuten Trade's Vice President of Equity Research, Thong Pak Leng said following the overnight rise on Wall Street, the Dow Jones Industrial Average rose 171 points and the Nasdaq jumped 112 points with the 10-year US Treasury yield rising to 4.03%.

In Hong Kong, the Hang Seng Index continued to decline due to a lack of catalyst.

He also said that the decline in China's 10-year bond yield has led to expectations of lower interest rates. In Malaysia, stock buying activities at low prices also expect the index to move around 1,485 to 1,495.

Among the heavyweights, Maybank and Petronas Chemicals rose one sen to RM9.01 and RM7.01 respectively, Public Bank added two sen to RM4.33, CIMB rose four sen to RM5.99 and Tenaga Nasional was unchanged. at RM10.48.

On the index board, the FBM 70 Index rose 0.20 points to 15,078.84, the FBMT 100 Index added 23.23 points to 10,766.98, the FBM Emas Shariah Index increased 14.29 points to 11,249.25, the FBM Gold Index rose 23.90 points to 11,121.73 and the FBM ACE Index decreased 16.08 points to 5.4 16.77.