BURSA MALAYSIA EXTENDS LAST WEEK'S MOMENTUM TO OPEN HIGHER

KUALA LUMPUR, Nov 25 (Bernama) -- Bursa Malaysia extended last week’s momentum to open higher today, tracking the better overnight performance on Wall Street as investors continued to bet on “buy crypto and dollar” following Donald Trump’s election victory.

At 9.27 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.28 points to 1,596.06, from Friday’s close of 1,589.78.   

The benchmark index started the day 4.09 points higher at 1,593.87.  

The broader market, however, was slightly negative, with decliners leading gainers 263 to 233, while 353 counters were unchanged, 1,615 untraded and 28 suspended.

Turnover stood at 322.82 million units valued at RM187.24 million.

Malacca Securities Sdn Bhd expected traders to shift their focus this week to key economic events, including the Federal Open Market Committee meeting minutes, US Core Personal Consumption Expenditures data, United States third quarter gross domestic product, and China’s Manufacturing Purchasing Managers' Index.

“With rising gold and oil prices, we anticipate positive trading activity in the gold and oil and gas sectors. Also, the stronger US dollar and the Trump administration’s proposed tariffs are expected to create opportunities in export-oriented sectors such as technology and gloves,” it said in a note today.

Among the heavyweights, Maybank and Tenaga Nasional improved 8.0 sen each to RM10.28 and RM14.08, Public Bank and IHH Healthcare went up 4.0 sen each to RM4.42 and RM7.23, while Hong Leong Bank gained 18 sen to RM20.66.

As for the active stocks, CN Asia eased half-a-sen to 7.0 sen, Bahvest slipped 4.5 sen to 88.5 sen, while Genetic Technology added 5.0 sen to 86.5 sen and Widad Group was flat at 5.0 sen.

On the index board, the FBM Emas Shariah Index gained 35.44 points to 12,160.95, the FBM Emas Index garnered 47.41 points to 12,158.40 and the FBMT 100 Index added 47.01 points to 11,861.44.

The FBM 70 Index topped up 72.61 points to 18,006.63 but the FBM ACE Index was down by 19.47 points to 5,143.60.

Sector-wise, the Financial Services Index jumped 114.77 points to 19,151.84, the Energy Index edged up 4.43 points to 824.55 and the Plantation Index expanded 0.74 of-a-point to 7,539.26.

However, the Industrial Products and Services Index was 0.30 of a point lower at 172.98.  

-- BERNAMA