Bursa Malaysia Opens Marginally Higher On Cautious Trading

KUALA LUMPUR, Oct 18 (Bernama) -- Bursa Malaysia opened marginally higher on cautious trading ahead of Budget 2025 to be tabled later today, analyst said.

At 9.06 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 1.78 points to 1,643.22 from Thursday’s close of 1,641.44.

The benchmark index opened 1.85 points higher at 1,643.29.

Market breadth was positive, with advancers outpacing decliners 149 to 103, while 2,268 counters remained unchanged, 1,972 untraded, and 19 suspended.

Turnover stood at 86.06 million units valued at RM41.89 million. 

Hong Leong Investment Bank said as investors await the details of Budget 2025 today, the FBM KLCI is likely to trend sideways with a support level at 1,606-1,625 and resistance at 1,650-1,663.

“This is buoyed by bullish Wall Street and the return of net foreign inflows, potentially rotating from the steeply overbought China and Hong Kong markets,” it said in a note. 

However, it said the outlook is tempered by ongoing concerns about a potential regional conflict in the Middle East, political dynamics during the US elections countdown (on Nov 5) coupled with uncertainties surrounding China's stimulus measures and its economic recovery roadmap.

Among the heavyweights, YTL Power International and Genting rose 3.0 sen each to RM3.55 and RM4.02, respectively, MISC gained 6.0 sen to RM7.66, CIMB upped 5.0 sen to RM8.21, and IOI Corporation added 2.0 sen to RM3.79.

For the active counters, TWL Holdings climbed half-a-sen to 3.0 sen, AHB Holdings, Yew Lee and Pegasus Heights were flat each at 4.0 sen, 51 sen, and 1.0 sen, respectively, Cape EMS was half-a-sen better at 33 sen and Top Glove advanced 1.0 sen to RM1.05.

On the index board, the FBM Emas Index increased by 18.23 points to 12,341.79, while the FBM Emas Shariah Index gained 13.68 points to 12,231.14.

The FBMT 100 Index perked 18.93 points to 12,044.68, the FBM 70 Index strengthened 49.76 points to 17,672.38, and the FBM ACE Index was 1.39 points higher at 5,093.50.

Sector-wise, the Financial Services Index garnered 22.98 points to 19,487.22, the Energy Index fell 0.91 of-a-point to 855.39, the Plantation Index inched up 4.70 points to 7,254.93, and the Industrial Products and Services Index rose 0.27 of-a-point to 174.96.

-- BERNAMA