KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia opened higher today showing resilience despite the global tech rout amid mixed Wall Street performance.
At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 4.68 points to 1,717.16 from yesterday’s close of 1,712.48.
The benchmark index opened 1.91 points higher at 1,714.39.
The broader market was positive with gainers outpacing losers 160 to 135, while 267 counters were unchanged, 2,205 untraded and 48 suspended.
Turnover totalled 105.88 million shares worth RM52.91 million.
In a note today, Malacca Securities Sdn Bhd said overall sentiment may rebound today, though its upside will be limited by the global tech rout.
“Semiconductor weakness could cap index gains, but stock-specific earnings breakouts offer clear trading opportunities,” it said.
It noted that sector rotation has intensified following China’s largest DRAM maker ChangXin Memory Technologies’ initial public offering (IPO), which triggered a sell-off in memory stocks like Micron and SK Hynix.
“Investors fear that future Chinese capacity expansion could pressure traditional memory pricing down the road,” it said in a note today.
It added that key focus shifts to the upcoming US second quarter gross domestic product figures, weekly jobless claims and the Federal Reserve policy decision.
Among heavyweights, Maybank rose eight sen to RM10.98, CIMB added six sen to RM7.82, Public Bank and IHH Healthcare remained unchanged at RM5.19 and RM8.34 respectively, but Tenaga Nasional eased four sen to RM14.62.
Among active stocks, Tanco and V.S Industry advanced one sen each to 27 sen and 23 sen, Xin Synergy gained half sen to 21.5 sen, while Velesto Energy and Land & General remained unchanged at 24.5 sen and 16.5 sen respectively.
Among the top gainers, Nestle advanced 94 sen to RM94.60, APM Automotive jumped 10 sen to RM2.95, Petronas Chemicals was seven sen up to RM4.69, CelcomDigi inched up six sen to RM7.82 and Pentamaster climbed five sen to RM5.01.
Hong Leong Bank led the losers, falling 20 sen to RM22.10, Sam Engineering & Equipment shed 10 sen to RM4.40, Critical Holdings lost seven sen to RM1.73, Kelington declined six sen to RM7.84, and Gopeng slipped 5.5 sen to 73.5 sen.
Among the broader indices, the FBM Emas Index increased 26.73 points to 12,668.45, the FBMT 100 Index inched up 26.36 points to 12,502.75 and the FBM Mid 70 Index gained 4.75 points to 17,906.61.
The FBM Emas Shariah Index strengthened 20.25 points to 12,477.78, and the FBM ACE Index climbed 6.53 points to 4,892.82.
By sector, the Financial Services Index rose 53.70 points to 20,308.17, the Industrial Products and Services Index was marginally higher by 0.32 of a point to 185.79, and the Plantation Index edged up 14.65 points to 9,246.24, while the Energy Index fell 0.36 of a point to 763.06.
-- BERNAMA