Bursa Malaysia Continues its Upward Pace, Remaining in a Positive Position Since the Beginning of Trading


The local stock market rose in the morning session boosted by a positive recovery on Wall Street shortly after stronger-than-expected reports for certain technology sectors.

At 12.30 this afternoon, the FTSE Bursa Malaysia (FBM KLCI) rose 4.39 points (0.28%) to 1,593.98 from the previous close of 1,589.59 on Friday.

Market sentiment was broadly positive at 513 to 435. Meanwhile, 477 remained unchanged.

According to Malacca Securities Sdn Bhd, Wall Street showed renewed interest due to lower-than-expected jobs data and positive momentum from Apple's financial results and its share buyback program.

Recently, the buying interest in the technology sector is likely to continue in the short term.

In the commodity market, Brent crude oil continues to retrace its rise and is trading near $83 per barrel and crude palm oil (MSM) is seeing a base support near RM3,800.

Meanwhile, heavyweights such as Maybank and Public Bank gained three sen to RM9.83 and RM4.15 respectively, CIMB rose two sen to RM6.67, Tenaga Nasional gained eight sen to RM12.40 while IHH Healthcare remained unchanged at RM6.29.

As for active shares, Iconic and Ingenieur rose half a sen to 11 sen and 12 sen respectively, SNS rose 2.5 sen to 42 sen while Berjaya Corp added one sen to 29.5 sen.

On the index board, the FBM Gold Index rose 38.18 points to 12,008.29, the FBMT 100 Index rose 33.02 points to 11,630.14, the FBM 70 Index added 39.76 points to 16,776.78, the FBM ACE Index gained 20.49 points to 5,155.04 while the FBM Gold Shariah Index rose 25.25 points to 12, 218.55.

By sector, the Financial Services Index jumped 63.36 points to 17,353.77 and the Industrial Products and Services Index rose 0.75 points to 191.59 while the Energy Index on the other hand dropped 0.61 points to 966.24 and the Plantation Index fell 6.20 points to 7,413.67.