KUALA LUMPUR, Aug 12 — Bursa Malaysia opened higher on Wednesday, driven by selective bargain hunting following previous session losses and renewed buying interest in key heavyweight stocks, despite lingering caution stemming from Wall Street’s weaker overnight performance.
At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.19 points to 1,732.65, up from Tuesday’s close of 1,731.46. The index had initially opened 0.01 of a point higher at 1,731.47.
Market breadth favoured gainers, with 162 advancing counters edging out 117 decliners. A total of 314 counters remained unchanged, 2,194 untraded, and 13 suspended, with total trading volume standing at 99.51 million shares worth RM63.27 million.
In its market note today, Rakuten Trade Sdn Bhd highlighted that US equities closed lower overnight due to growing anxieties over Middle Eastern geopolitical developments and oil supply concerns.
“As such, Brent crude is racing towards US$90 per barrel again,” Rakuten Trade noted, pointing out that market participants are also awaiting the release of crucial United States Consumer Price Index (CPI) inflation data later in the day.
“For today, we expect market consolidation to continue and envisage the FBM KLCI trending within the 1,725-1,735 range,” the research house added.
Among heavyweights, Malayan Banking Bhd (Maybank) picked up two sen to RM10.58, while Public Bank Bhd slipped one sen to RM5.18 and CIMB Group Holdings Bhd dropped two sen to RM7.87. IHH Healthcare Bhd dropped seven sen to RM8.28, whereas Tenaga Nasional Bhd traded unchanged at RM14.34.
In the most active space, MR DIY Group (M) Bhd declined two sen to RM1.50, while Hextar Healthcare Bhd and Perak Transit Bhd held flat at six sen and 24 sen, respectively. Kinergy Advancement Bhd nudged half a sen higher to 42 sen, and NationGate Holdings Bhd added one sen to RM1.51.
Top gainers for the morning session included UMS Integration Ltd, which advanced 12 sen to RM7.99, and PPB Group Bhd, which added nine sen to RM9.49. SD Guthrie Bhd and AEON Credit Service (M) Bhd both surged eight sen to RM6.99 and RM5.74, respectively, while YTL Power International Bhd gained seven sen to RM4.85.
Conversely, Nestle (Malaysia) Bhd led the decliners after sliding 80 sen to RM101.80, followed by Malaysian Pacific Industries Bhd, which lost 54 sen to RM47.56. ENRA Group Bhd dropped 13 sen to 72 sen, Allianz Malaysia Bhd fell eight sen to RM22.02, and UWC Bhd slipped seven sen to RM6.61.
On the index front, the FBM Emas Index rose 5.69 points to 12,859.92, the FBMT 100 Index advanced 4.63 points to 12,671.46, and the FBM ACE Index climbed 8.80 points to 5,178.02. However, the FBM Emas Shariah Index edged down 1.38 points to 12,702.80 and the FBM 70 Index gave up 10.60 points to 18,387.32.
Sector-wise, the Financial Services Index rose 12.71 points to 20,386.92, the Plantation Index added 44.66 points to 9,528.66, and the Energy Index increased 1.69 points to 774.91, while the Industrial Products and Services Index dipped 0.19 of a point to 187.78.
–NMT
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