This morning, Bursa Malaysia opened high and tracked continued strong gains on Wall Street driven by buying during cheap prices following recent selling.
At exactly 9.10 this morning, the FTSE Bursa Malaysia KLCI ( FBM KLCI ) rose 3.35 points to 1,490.96 from 1,487.61 when it closed last Friday. The FBM KLCI opened 0.99 points higher at 1,488.60.
Market sentiment moved positively where profit counters outnumbered losers by 299 to 161. Meanwhile, 356 counters were unchanged, 1,404 counters were not traded and 19 were suspended.
Total trading volume of 531.69 million units worth RM203.24 million.
According to Rakuten Trade's Vice President of Equity Research, Thong Pak Leng said following the continued strong rise on Wall Street such as the Dow Jones Industrial Average rose 26 points (0.07%) last Friday and the Nasdaq added 14 points (0.1%).
He also said that the main indexes in Asia closed mixed as the sell-off of technology stocks in Hong Kong continued and the sluggish real estate market put pressure on real estate stocks.
As a result, the Hang Seng Index declined 111 points (0.66%).
At the local level, he expects the purchase of local stocks to continue due to strong support from foreign funds and improved market sentiment, although he does not rule out the possibility of profit-taking activities.
FBM KLCI is expected to move in a trend between 1,485 to 1,495 today.
Among the heavyweights, Maybank, Public Bank and CIMB added two sen to RM9.08, RM4.35 and RM6.02 respectively while Petronas Chemicals rose four sen to RM7.24 and Tenaga Nasional fell two sen to RM10.48.
On the index board, the FBM 70 Index rose 64.48 points to 15,124.35, the FBMT 100 Index rose 29.76 points to 10,774.13, the FBM Emas Syariah Index added 21.96 points to 11,254.10, the FBM Gold Index increased 32.16 points to 11,129.38 and the FBM ACE Index decreased 6.19 points to 5,432.08.
