Bursa Malaysia opened higher, tracking Wall Street’s gains from technology stocks. The FBM KLCI rose to 1,630.96, with gainers outpacing losers. Sectors such as Energy and Financial Services showed notable increases, while traders are advised to monitor key economic data releases this week.
On January 6, Bursa Malaysia’s benchmark index commenced on a positive note, reflecting the upward trend seen in Wall Street due to increased demand for technology stocks. At 9:10 AM, the FTSE Bursa Malaysia KLCI (FBM KLCI) registered at 1,630.96, marking an increase of 1.50 points from the previous closing figure of 1,629.46. It initially opened 0.28 points higher at 1,629.74.
The market showed a favorable balance, with gainers outnumbering losers at 278 to 159. Additionally, 361 stocks remained unchanged, and 1,555 were untraded while 10 were suspended. The turnover was recorded at 318.51 million units with a value of RM181.36 million. Malacca Securities Sdn Bhd highlighted that the visit of Singapore’s Prime Minister to Malaysia aims to formalize the Johor-Singapore Special Economic Zone (JS-SEZ), prompting renewed investor interest in Johor-related counters.
The recent surge in crude oil prices is anticipated to provide ongoing trading opportunities within the Energy sector. Furthermore, investments in data centers are expected to positively influence earnings in construction, building materials, and utility sectors, according to the brokerage’s insights. Traders are advised to keep an eye on key economic reports scheduled for release, including the Eurozone Consumer Price Index (CPI), China’s CPI, and the ISM Non-Manufacturing Purchasing Managers’ Index (PMI).
In the heavyweight stocks category, Maybank and Tenaga Nasional each saw an increase of two sen, reaching RM10.16 and RM14.62, respectively. Public Bank rose by three sen to RM4.53, while CIMB remained steady at RM8.11. Notably, IHH Healthcare experienced a decline of seven sen, bringing its price down to RM7.21.
Among actively traded stocks, Velocity Capital and Careplus each gained one sen to reach 8.0 sen and 27 sen. Harvest Miracle increased 1.5 sen to 20.5 sen, and MYEG was up by half-a-sen at 99 sen, while Aimflex witnessed a slight decline of half-a-sen to 15 sen.
The broader indices reflected positive movements, with the FBM Emas Index increasing by 28.73 points to 12,562.37. The FBM Emas Shariah Index rose by 22.27 points to 12,568.76, while the FBMT 100 Index climbed by 27.02 points to 12,229.91. Additionally, the FBM 70 Index appreciated by 100.18 points to 18,967.52, and the FBM ACE Index experienced an increase of 17.33 points, reaching 5,489.89. On a sectoral basis, the Energy Index rose by 5.56 points to 856.86, the Financial Services Index jumped by 32.80 points to 19,055.87, while both the Industrial Products and Services Index and Plantation Index showed marginal gains, reaching 174.53 and 7,604.42 respectively.
In summary, Bursa Malaysia opened higher today, boosted by positive movements in Wall Street and increasing demand for technology stocks. The market exhibited a favorable distribution of stocks, outpacing losers and seeing healthy turnover. Key economic indicators due this week may also influence trading sentiment, while sectoral gains were noted in Energy and Financial Services. Overall, the outlook appears positive as investors respond to developments in both local and international markets.
Original Source: www.bernama.com
