Ringgit Strength Lifts Bursa Malaysia To Open Higher
By Abdul Hamid A Rahman
KUALA LUMPUR, Dec 2 (Bernama) -- Bursa Malaysia opened higher today despite the weaker performance on Wall Street, supported by the stronger ringgit which continued to lift investor sentiment.
At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 7.38 points, or 0.45 per cent, to 1,631.95 from Monday’s close of 1,624.57.
The index had opened 2.50 points firmer at 1,627.07.
The broader market was positive, with 242 gainers outpacing 132 losers. Another 301 counters were unchanged, 2,013 untraded, and 10 suspended.
Turnover stood at 149.13 million shares worth RM121.76 million.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Wall Street closed broadly lower as profit-taking emerged following a recent run-up, while overall sentiment was dampened by a sharp overnight decline in Bitcoin that signalled a shrinking risk appetite.
“Meanwhile, the US 10-year yield edged higher at 4.09 per cent,” he told Bernama.
On the domestic front, Thong said that with the ringgit strengthening, further net foreign fund inflows are anticipated, and the FBM KLCI is expected to hover within the 1,620-1,630 range today.
Among heavyweights, Maybank jumped 11 sen to RM10.08, CIMB added four sen to RM7.99, and Public Bank advanced two sen to RM4.38, while Tenaga Nasional slipped eight sen to RM13.24, and IHH Healthcare eased two sen to RM8.38.
On the most active list, Capital A improved 16 sen to 40.5 sen, Pegasus edged up half-a-sen to one sen and Tanco and Zetrix AI were flat at RM1.16 and 81.5 sen, respectively, while Bumi Armada added one sen to 31.5 sen.
Top gainers included Nestle, which climbed RM1.16 sen to RM113.20, Kuala Lumpur Kepong advanced 34 sen to RM19.44, Petronas Dagangan added 30 sen to RM20.90, Fraser & Neave rose 24 sen to RM35.12, and Malaysian Pacific Industries strengthened 22 sen to RM31.58.
Among the top losers, Gamuda dipped eight sen to RM5.22, Hong Leong Industries fell eight sen to RM15.56, KESM declined six sen to RM2.82, MR DIY slipped five sen to RM1.58, and PJ Bumi eased three sen to RM1.66.
On the index board, the FBM Emas Index advanced 48.32 points to 12,047.19, the FBM Emas Shariah Index improved 24.75 points to 11,928.21, the FBMT 100 Index climbed 51.72 points to 11,841.98, and the FBM Mid 70 Index enhanced 65.39 points to 16,801.37, while the FBM ACE Index sank 13.60 points to 4818.31.
Sector-wise, the Financial Services Index jumped 140.44 points to 18,925.89, the Industrial Products and Services Index added 0.31 of-a-point to 166.27, the Energy Index put on 2.78 points to 752.23, and the Plantation Index rose 35.50 points to 8,069.42.
-- BERNAMA
