BURSA MALAYSIA OPENS HIGHER IN SYNC WITH WALL STREET GAINS

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, Dec 3 (Bernama) -- Bursa Malaysia opened higher today in sync with Wall Street’s overnight gains as sentiment was bolstered by the return of interest in risky assets underscored by gains in Bitcoin.

At 9.15 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.53 of a point to 1,631.13 from Tuesday’s close of 1,630.60.

The index had opened 0.86 of a point higher at 1,631.46.

The broader market was positive, with 202 gainers outpacing 176 losers. A further 345 counters were unchanged, 1,981 untraded and seven suspended.

Turnover stood at 147.45 million shares worth RM108.52 million.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said traders are also discounting the Federal Reserve rate cut next week and are looking at the better earnings forecasts for 2026.

“Meanwhile, the US 10-year yield was flat at 4.09 per cent. Over in Hong Kong, the Hang Seng Index barely stayed above water as traders remain affected by the earlier sell-off in Bitcoin coupled with concerns over the possible unwinding of yen-linked carry trade,” he told Bernama. 

Back home, he said the FBM KLCI maintained its ascension as bargain-hunting activities continue.

“The index tested the 1,635 mark before easing to end at the 1,630 threshold. We believe market undertone remains steady, hence expect the index to trend within the 1,630-1,640 range today.

“Meanwhile, the ringgit is still firm at around 4.13 against the US dollar,” he added.

Among heavyweights, CIMB and IHH Healthcare added 2.0 sen each to RM8.02 and RM8.38, Public Bank inched up 1.0 sen to RM4.42, Tenaga Nasional perked up 28 sen to RM13.02, while Maybank was 4.0 sen lower at RM10.30.  

On the most active list, Capital A edged down half-a-sen to 39.5 sen, Foodie Media decreased 1.5 sen to 34 sen while Kinergy Advancement and Pharmaniaga were flat at 38.5 sen and 23.5 sen respectively. 

Top gainers included Allianz Malaysia, which expanded 60 sen to RM20.50, while KESM Industries and Hong Leong Bank put on 12 sen each to RM2.98 and RM21.26.  

Among the top losers, Nestle slid 60 sen to RM119.60, Fraser & Neave shed 66 sen to RM35.70, MPI lost 34 sen to RM31.00, Petronas Gas eased 14 sen to RM17.56, Press Metal Aluminium erased 12 sen to RM6.73, while Axiata  trimmed by 4.0 sen to RM2.54. 

On the index board, the FBM Emas Index strengthened 5.63 points to 12,036.92, the FBM Emas Shariah Index widened 11.94 points to 11,860.06, the FBMT 100 Index picked up 3.98 points to 11,825.57, the FBM Mid 70 Index appreciated 6.31 points to 16,732.31, and the FBM ACE Index gained 7.83 points to 4,788.70.

Sector-wise, the Financial Services Index firmed by 19.20 points to 19,130.18, the Industrial Products and Services Index fell 0.71 of-a-point to 165.25, the Energy Index weakened 1.80 points to 748.61, and the Plantation Index depreciated 12.76 points to 8,078.34.

-- BERNAMA