Bursa Malaysia Soars Again, Asian Market Remains Dominant!


 Bursa Malaysia opened higher in early trading today with the main index remaining above the 1,500 level amid positive market sentiment globally.

At exactly 2.30 this afternoon, the FTSE Bursa Malaysia KLCI (FBM KLCI) strengthened by 0.22% at a position of 1507.34 compared to where it closed on Wednesday at 1,504.1.

The barometer index opened 0.65 points easier at 1,503.45.

The broader market showed positive sentiment where gainers outnumbered losers by 221 to 135. Meanwhile, 284 counters were unchanged, 1,657 counters were not traded and 49 others were suspended.

The total turnover is 296.45 million units worth RM156.16 million.

According to Vice President of Equity Research Rakuten Trade Sdn. Bhd, Thong Pak Leng said the FBM KLCI continued to rise with the addition of 8.0 basis points while closing at 1,504.1 on Wednesday.

It is because of the extensive buying for Bursa Malaysia Bhd and its subsidiaries during the Thaipusam public holiday yesterday.

They think that the local index can hold above 1,500 for the long term and has the potential to strengthen further in the near future.

With the improvement in global equities, the FBM KLCI is expected to rise in the range of 1,500 to 1,510 for today.

He said again, Wall Street closed strong on Thursday with data showing continued economic growth. Major indices in Asia mostly closed high such as in China and Hong Kong.

The sentiment was supported by the Chinese government's commitment to provide additional economic support that is predicted to increase liquidity in the banking system.

Meanwhile, Public Bank dropped three sen to RM4.34, Tenaga and IHH Healthcare dropped two sen each to RM10.50 and RM6.05, CelcomDigi dropped four sen to RM4.21 and Hong Leong Bank dropped six sen to RM19.12. .

On the index board, FBM Emas Index rose 11.39 points to 11,219.6, FBM 70 Index increased 37.97 points to 15,242.39, FBMT 100 Index increased 10.45 points to 10,869.78, FBM Emas Shariah Index increased 10.1.72, FBM Emas Shariah 3 points to 10.03. The ACE index dropped 15.21 points to 4,846.21.

The Financial Services Index fell 14.28 points to reach 16,752.31 and the Industrial Products and Services Index slipped 0.03 points to 174.8.