KUALA LUMPUR (June 16): Bursa Malaysia rebounded from yesterday’s losses to open slightly higher today, driven by renewed buying of selected industrial products and services counters, a dealer said.
At 9.16am, the benchmark FBM KLCI had risen 1.73 points to 1,583.10 from yesterday’s close at 1,581.37.
The index opened 1.55 points better at 1,582.92.
Market breadth was positive, with gainers leading losers 224 to 214, while 332 counters were unchanged, 1,383 untraded and 11 others suspended.
Turnover stood at 569.06 million units worth RM247.82 million.
Malacca Securities Sdn Bhd said investors may focus on packaging and plastic-related counters as advanced sterilisation products (ASPs) in the sector are on a rising trend on the back of higher resin prices.
In a research note today, it said the energy sector may gain traction in line with a persistent rise in oil prices, while technology stocks may continue their rebound today.
“The KLCI finished a see-saw session mildly lower yesterday after bargain-hunting activities emerged in the previous session as market sentiment remained cautious prior to the National Recovery Plan announcement.
“We expect the projection that Malaysia might gradually open up the economy by September according to the announcement, coupled with an accelerating daily vaccination rate in the country, to lift the market sentiment on the local front,” it said.
Regarding commodities, the research firm said crude palm oil (CPO) prices rebounded after a sixth-session decline, while Brent oil prices stayed firmly above US$73 (RM300.76) per barrel.
Of the heavyweights, Malayan Banking Bhd (Maybank) and Public Bank Bhd added one sen each to RM8.21 and RM4.22 respectively, Tenaga Nasional Bhd (TNB) gained six sen to RM10, Petronas Chemicals Group Bhd (PetChem) was flat at RM8.10 and IHH Healthcare Bhd slipped one sen to RM5.56.
Among the actives, KNM Group Bhd earned half a sen to 21 sen, Dagang NeXchange Bhd (DNeX) and Zelan Bhd improved 1.5 sen each to 90.5 sen and 15 sen respectively, while Berjaya Corp Bhd and Serba Dinamik Holdings Bhd eased half a sen each to 33 sen and 67.5 sen respectively.
On the index board, the FBM Emas Index increased 6.73 points to 11,574.58 and the FBMT 100 Index gained 8.04 points to 11,255.19, while the FBM ACE fell 18.04 points to 7,686.88.
The FBM Emas Shariah Index advanced 10.03 points to 12,721.78 but the FBM 70 declined 3.43 points to 15,072.73.
Sector-wise, the Financial Services Index shed 2.23 points to 15,314.46, the Industrial Products and Services Index inched up 0.33 of a point to 194.26, and the Plantation Index declined 18.75 points to 6,583.62.-BERNAMA