KUALA LUMPUR (June 24): Bursa Malaysia opened higher on Friday (June 24), taking its cue from Wall Street’s positive performance overnight, as well as those of its regional peers, a dealer said.
At 9.05am, the FBM KLCI had risen 3.45 points to 1,434.50 from Thursday's close at 1,431.05.
The benchmark index opened 0.25 of a point higher at 1,431.30.
The overall market breadth was positive with gainers surpassing losers 131 to 95, while 167 counters were unchanged, 1,896 untraded and 10 others suspended.
Turnover stood at 77.59 million units worth RM33.11 million.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said trading of all three major indices on Wall Street was choppy before staging a late rally to close positively.
"Concerns over inflation are still evident, even as the Dow Jones Industrial Average gained 194 points, while the Nasdaq jumped by 179 points,” he told Bernama.
He also said the US 10-year yield continued to slide and ended at 3.09%.
Back home, he reckoned that the KLCI will hover within the consolidation phase and be in the 1,430-1,445 range on Friday, in view of prevailing cautious sentiments.
“Meanwhile, crude palm oil rebounded to reach closer to the RM4,900 per tonne level,” he added.
Among the heavyweights, Malayan Banking Bhd (Maybank) and Public Bank Bhd gained three sen to RM8.59 and RM4.43 respectively, and CIMB Group Holdings Bhd added one sen to RM4.91, while Petronas Chemicals Group Bhd lost four sen to RM9.11 and IHH Healthcare Bhd was unchanged at RM6.36.
Of the actives, Xidelang Holdings Ltd remained unchanged at two sen, Dagang NeXchange Bhd (DNeX) rose half a point to 75.5 sen and TAFI Industries Bhd widened two sen to 49 sen, while both Straits Energy Resources Bhd and Malaysian Genomics Resource Centre Bhd expanded 1.5 sen to 12 sen and 77.5 sen respectively.
On the index board, the FBM Emas Shariah Index was 25.43 points stronger at 10,378.41, FBM 70 increased 48.08 points to 12,391.96, the FBM Emas Index appreciated 26.94 points to 10,234.18 and the FBMT 100 Index surged 27.49 points to 9,976.59, while FBM ACE was weaker by 3.86 points at 4,742.75.
Sector-wise, the Financial Services Index strengthened 46.94 points to 15,967.53, while the Plantation Index declined 15.74 points to 6,938.54, and the Industrial Products and Services Index eased by 0.18 of a point to 181.10.