KUALA LUMPUR, Feb 5 (Bernama) -- Bursa Malaysia opened slightly higher today supported by buying interest in selected bluechip utilities and construction counters, analysts said.
At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 0.76 of-a-point to 1,565.32, from Tuesday’s close of 1,564.56.
The benchmark index opened 1.07 points higher at 1,565.63.
On the broader market, gainers led decliners 141 to 75, while 205 counters were unchanged, 1,879 untraded and 10 suspended.
Turnover stood at 147.57 million units worth RM66.96 million.
Malacca Securities Sdn Bhd said given the pullback in the construction sector over the past month, this presents bargain-hunting opportunities for the industry, supported by Johor-Singapore Special Economic Zone (JSSEZ) initiatives and data centre boom in the country.
“Although traders have turned cautious toward glove counters following US President Donald Trump’s decision to pause his tariff orders on Mexico and Canada, we believe investors may hold on as the earnings season approaches; we expect sequential growth in their earnings,” it said in a note.
It also said traders would continue to monitor the ISM Non-Manufacturing Purchasing Managers' Index (PMI), S&P Global Services PMI and China’s Caixin Services PMI today to gauge their next move.
On the local stock market, the brokerage firm favours Oriental Kopi for its explosive growth potential, its candidacy for a main market transfer and the anticipated shariah status bodes well for the company.
On the technical front, it anticipates resistance to be around 1,579-1,584, while support is set at 1,544-1,549.
Among the heavyweights, Tenaga rose 10.0 sen to RM13.64, Gamuda bagged 5.0 sen to RM4.23, YTL Corporation and Maxis gained 2.0 sen each to RM1.90 and RM3.55, respectively. Public Bank added 1.0 sen to RM4.41.
Harvest Miracle Capital led the most active stocks, improving by 1.0 sen to 20.5 sen, and Oriental Kopi added half-a-sen to 92 sen.
At the same time, Advance Synergy, Bintai Kinden and Velesto Energy were flat each at 9.5 sen, 10 sen and 18 sen, respectively.
On the index board, the FBM Emas Index strengthened 17.82 points to 11,952.65, the FBMT 100 Index grew 16.66 points to 11,648.32, and the FBM Emas Shariah Index increased 29.57 points to 11,784.34.
The FBM ACE Index appreciated 21.59 points to 5,239.68 and the FBM 70 Index surged 68.40 points to 17,736.26.
Sector-wise, the Financial Services Index reduced by 28.29 points to 18,998.96, the Industrial Products and Services Index rose 0.12 of-a-point to 164.62, the Plantation Index added 13.54 points to 7,386.62, and the Energy Index rose 3.56 points to 816.95.
-- BERNAMA
