BURSA OPENS HIGHER ON BARGAIN HUNTING, WALL STREET GAINS

By Abdul Hamid A Rahman

KUALA LUMPUR, April 14 (Bernama) -- Bursa Malaysia opened higher on Monday, supported by bargain hunting and tracking Wall Street’s strong performance last Friday.

At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) climbed 21.84 points to 1,476.60 from Friday’s close of 1,454.76. The benchmark index had opened 19.29 points firmer at 1,474.05.

The broader market was positive, with gainers outpacing decliners 405 to 62. A total of 195 counters were unchanged, 1,721 untraded, and nine suspended.

Turnover stood at 188.92 million shares worth RM139.91 million.

On Wall Street, the Dow Jones Industrial Average rose 1.56 per cent to 40,212.71, the S&P 500 added 1.81 per cent to 5,363.36, and the Nasdaq Composite advanced 2.06 per cent to 16,724.46.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the US market ended a volatile week on a positive note, supported by White House remarks that Donald Trump remains optimistic China will pursue a deal with the United States.

“In view of rising risks in the US, the 10-year yield continued to climb, nearing the 4.50 per cent mark,” he told Bernama.

Thong noted that investors remained cautious over the potential impact of the 90-day tariff pause. As a result, he expects another volatile session ahead.

Nevertheless, he said improving trading velocity bodes well for the market, adding that the FBM KLCI is likely to trend between the 1,440–1,460 range today.

Among the heavyweights, CIMB Group gained 12.0 sen to RM6.77, Malayan Banking rose 11.0 sen to RM9.93, Tenaga Nasional advanced 10.0 sen to RM13.32, IHH Healthcare climbed 6.0 sen to RM6.86, and Public Bank added 5.0 sen to RM4.29.

Among actives, Inari Amertron surged 16.0 sen to RM1.82, NationGate Holdings rose 7.0 sen to RM1.30, MY EG Services added 1.0 sen to 91.0 sen, Avangaad ticked up half-a-sen to 28.5 sen, and Oversea Enterprise was flat at 4.5 sen.

On the index board, the FBM Emas Index surged 166.97 points to 10,977.05, the FBMT 100 Index rose 167.49 points to 10,769.16, the FBM Emas Shariah Index climbed 179.66 points to 10,784.57, the FBM 70 Index advanced 274.20 points to 15,540.16, and the FBM ACE Index gained 59.01 points to 4,471.20.

Sector-wise, the Financial Services Index jumped 206.90 points to 17,741.45, the Industrial Products and Services Index edged up 2.83 points to 142.26, the Energy Index rose 11.56 points to 660.30, and the Plantation Index added 74.97 points to 7,137.50.

-- BERNAMA