Bursa Malaysia Opens Higher Ahead Of BNM Rate Decision

KUALA LUMPUR, Sept 4 (Bernama) -- Bursa Malaysia opened higher on Thursday as investors awaited Bank Negara Malaysia’s (BNM) interest rate decision, with most expecting policymakers to leave the overnight policy rate (OPR) unchanged at 2.75 per cent.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 3.30 points to 1,581.82 from Wednesday’s close of 1,578.52.

The index started the session 1.40 points higher at 1,579.92.

Market breadth was positive, with 163 stocks rising against 80 losers, while 256 were unchanged. Another 2,059 counters were untraded, and seven were suspended.

CIMB Treasury and Market Research said it expects BNM to hold the OPR at 2.75 per cent today, as the worst-case outcome on US tariffs has been averted.

Malacca Securities Sdn Bhd said the local market should trade firmer, tracking overnight gains on Wall Street. It noted that US equities recovered modestly, led by Alphabet after an antitrust victory, though weak labour data and a global sell-off in long-term bonds capped sentiment.

“Investors remain cautious over debt sustainability and inflation, even as US Federal Reserve rate-cut bets persist,” it said.

The brokerage added that solar-related companies are likely to see strong buying interest following the rollout of the LSS5+ large-scale solar packages.

“On the construction play, we believe traders may focus on Sunway Construction Group Bhd and Gamuda Bhd, as we expect the data centre boom to be sustained.

“On a more defensive angle, attention may turn to banks and consumer stocks such as AMMB Holdings Bhd and 99 Speed Mart Retail Holdings Bhd, the latter having just announced its expansion into China,” it said.

Among heavyweights, Maybank rose two sen to RM10.00, Public Bank gained three sen to RM4.29, and Tenaga Nasional advanced four sen to RM13.14. CIMB Group eased one sen to RM7.22, while IHH Healthcare was flat at RM6.19.

In active trade, MTouche Technology edged up half-a-sen to 4.5 sen, while Farm Fresh slipped two sen to RM2.00. Velesto, Auro Holdings and Reservoir Link Energy were unchanged at 21.5 sen, 15 sen and 20 sen respectively.

On the broader index board, the FBM Emas Index added 26.54 points to 11,753.07, the FBMT 100 Index gained 25.93 points to 11,521.45, and the FBM Emas Shariah Index rose 27.71 points to 11,735.33.

The FBM 70 Index climbed 45.45 points to 16,534.85, while the FBM ACE Index was 11.54 points higher at 4,765.63.

By sector, the Industrial Products and Services Index edged up 0.66 of-a-point to 164.15, the Plantation Index gained 8.85 points to 7,614.74, the Energy Index was 1.32 points higher at 751.24, and the Financial Services Index advanced 37.46 points to 18,109.42.

-- BERNAMA