KUALA LUMPUR, Nov 20 (Bernama) -- Bursa Malaysia’s benchmark index opened higher on Thursday, led by buying in technology and construction stocks, mirroring gains on Wall Street.
At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.08 points to 1,627.97, after opening 4.55 points firmer at 1,628.44, following Wednesday’s close of 1,623.89.
Market breadth was positive, with 312 gainers against 90 decliners. Another 235 counters were unchanged, 2,149 untraded, and 10 suspended.
Turnover stood at 179.84 million shares worth RM98.42 million.
Malacca Securities Sdn Bhd said Wall Street rebounded after a four-day, tech-led slide, as investors positioned ahead of corporate earnings.
Following the Wall Street gains, the brokerage expects the FBM KLCI to continue its recovery, with optimism likely in technology stocks and renewed buying in the construction sector.
“We believe this is justifiable given their discounted valuations and strong earnings visibility, underpinned by mega infrastructure projects and data centre investments in the country,” it said in a note.
Among heavyweights, Maybank rose four sen to RM9.97, Public Bank added one sen to RM4.29, Tenaga Nasional gained two sen to RM13.20, while CIMB slipped two sen to RM7.55. IHH Healthcare was flat at RM8.25.
On the most active list, Malayan United Industries and MMAG rose half-a-sen each to 6.5 sen and 8.5 sen, respectively, while Perak Transit gained 1.5 sen to 30 sen. AHB fell half-a-sen to 3.0 sen, and Aquawalk remained flat at 38 sen.
Top gainers included BLD Plantation, which added RM1.02 to RM13.80, United Plantations up 38 sen to RM28.38, Kuala Lumpur Kepong rose 30 sen to RM21.10, and Kelington gained 17 sen to RM5.33.
Among the top losers, Nestle eased 10 sen to RM112.20, Hume Cement declined seven sen to RM3.22, while Amway and AEON Credit lost four sen to RM4.89 and RM1.15, respectively.
On the index board, the FBMT 100 Index gained 39.72 points to 11,839.47, the FBM Emas Index rose 41.85 points to 12,067.15, and the FBM Emas Shariah Index added 51.55 points to 12,065.85.
The FBM ACE Index strengthened 30.21 points to 4,952.96, while the FBM Mid 70 Index surged 100.44 points to 16,912.84.
Sector-wise, the Financial Services Index advanced 20.27 points to 18,464.34, the Plantation Index climbed 63.46 points to 8,288.99, the Energy Index gained 0.87 of a point to 759.56, and the Industrial Products and Services Index rose 0.49 of-a-point to 165.82.
-- BERNAMA
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