Bursa Malaysia Opens Higher On Wall Street Gains

By Rosemarie Khoo

KUALA LUMPUR, Aug 15 (Bernama) -- Bursa Malaysia opened marginally higher, tracking Wall Street's overnight gains, according to analysts.

At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.45 of-a-point to 1,612.80, up slightly from Wednesday's close of 1,612.35.

The index began the day 2.28 points higher at 1,614.63.

In the broader market, gainers outnumbered decliners 173 to 127, with 233 counters unchanged, 1,944 untraded and 10 suspended.

Turnover stood at 111.18 million units worth RM65.58 million.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said buying activity may gain momentum following the modest US Consumer Price Index (CPI) data.

Thong said the index is expected to fluctuate between 1,610 and 1,620 today.

The firm also anticipates the ringgit to strengthen against the US dollar, potentially falling below the RM4.40 mark.

Wall Street closed broadly higher, buoyed by a CPI figure within expectations, suggesting an imminent rate cut by the US Federal Reserve next month.

Conversely, the Hang Seng Index weakened yesterday due to weak new loans in China, attributed to low credit demand.

In heavyweight trading, Maybank shed 2.0 sen to RM10.18, Public Bank gained 1.0 sen to RM4.23, while Tenaga, IHH Healthcare, and CelcomDigi remained unchanged at RM13.84, RM6.29, and RM3.84 respectively. CIMB rose 3.0 sen to RM7.44.

Among the most active counters, Cape EMS rose half-a-sen to 46.5 sen, Hiap Teck Venture held steady at 35.5 sen, and VS Industry climbed 2.0 sen to RM1.26.

On the index front, the FBM Emas Index advanced 2.53 points to 12,292.05, the FBMT 100 Index edged up 1.06 points to 11,930.31, while the FBM Emas Shariah Index declined by 3.80 points to 12,425.72.  The FBM 70 Index fell 6.84 points to 17,908.73, and the FBM ACE Index added 7.77 points to 5,399.06.

Sector-wise, the Financial Services Index climbed 8.98 points to 18,232.23, the Plantation Index eased 4.27 points to 7,153.61, the Industrial Products and Services Index decreased by 0.45 points to 182.58, and the Energy Index slid 2.71 points to 930.93.

-- BERNAMA