KUALA LUMPUR, April 1 — Bursa Malaysia opened higher today with the key index rising 0.70 per cent, led by Public Bank and Top Glove.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 11.03 points to 1,584.54 from Wednesday’s close of 1,573.51.
The index opened 6.46 points higher at 1,579.97.
On the broader market, gainers led losers 295 to 155, while 266 counters were unchanged, 1,408 untraded and nine others suspended.
Total volume stood at 463.33 million shares worth RM179.87 million.
Bursa Malaysia recorded a massive selling yesterday, with the key index falling by 2.2 per cent, mainly due to losses in glove stocks.
Rakuten Trade Sdn Bhd said the selling could be overdone and the brokerage expect some bargain-hunting to emerge today.
“We noticed that foreign funds are also present with positive inflow yesterday, thus, anticipate the index to trend above the 1,580 level with 1,570 as the immediate support,” it said in a research note.
Both Top Glove and Public Bank advanced eight sen to RM4.60 and RM4.28, and accounted for 4.13 points to the key index.
Other heavyweights, Maybank gained three sen to RM8.28, Public Bank increased eight sen to RM4.28, Petronas Chemicals added one sen to RM8.01, TNB jumped 10 sen to RM10.22, and IHH Healthcare was flat at RM5.32.
As for the active counters, Dagang Nexchange appreciated six sen to 97 sen, Zelan rose 4.5 sen to 15.5 sen, Berjaya Corp was 2.5 sen higher at 48 sen, Berjaya Land improved 4.5 sen to 45 sen, Fintec was flat at six sen, and Matang fell one sen to 11.5 sen.
On the index board, the FBM Emas Index improved 70.49 points to 11,685.05, the FBM 70 increased 45.09 points to 15,518.66, the FBMT 100 rose 66.92 points to 11,348.69, the FBM ACE put on 32.14 points to 10,097.94, and the FBM Emas Shariah was 67.57 points higher at 12,915.74.
Sector-wise, the Financial Services Index expanded 94.3 points to 15,315.29, the Plantation Index went up 16.72 points to 7,028.23, and the Industrial Products and Services Index added 1.24 point to 192.38.