Bursa Malaysia opened higher on January 6, following Wall Street’s gains. The FBM KLCI reached 1,630.96, increasing 1.50 points. Positive market breadth saw 278 gainers versus 159 losers, while sector performances, notably in Energy and Financial Services, remained robust amid significant trading volume.
On January 6, Bursa Malaysia opened higher, reflecting the positive momentum from Wall Street, where technology stocks fueled gains. At 9:10 AM, the FTSE Bursa Malaysia KLCI (FBM KLCI) registered a value of 1,630.96, an increase of 1.50 points from the previous close of 1,629.46. The index initially started at 1,629.74, up 0.28 points.
The market showed positive breadth, with 278 gainers and 159 losers. There were 361 stocks unchanged, 1,555 untraded, and 10 suspended. The trading volume reached 318.51 million units, valued at RM181.36 million. Malacca Securities Sdn Bhd highlighted the significance of Singapore’s Prime Minister’s visit to Malaysia to formalise the Johor-Singapore Special Economic Zone (JS-SEZ), shifting trader focus towards Johor-related equities.
The rise in crude oil prices is anticipated to generate trading opportunities in the Energy sector. Additionally, investments in data centres are projected to enhance earnings within the construction, building materials, and utilities sectors. Key economic data to watch this week include the Eurozone Consumer Price Index (CPI), China’s CPI, and the Institute for Supply Management’s Non-Manufacturing Purchasing Managers’ Index (PMI).
Among major stocks, Maybank and Tenaga Nasional each gained two sen to reach RM10.16 and RM14.62, respectively. Public Bank rose three sen to RM4.53, whereas CIMB remained unchanged at RM8.11. Conversely, IHH Healthcare experienced a decrease of seven sen to RM7.21. In notable trading actions, Velocity Capital and Careplus each rose by one sen, reaching 8.0 sen and 27 sen, respectively, while Harvest Miracle increased by 1.5 sen to 20.5 sen.
The broader market indices also recorded success, with the FBM Emas Index rising by 28.73 points to 12,562.37, and the FBM Emas Shariah Index increasing by 22.27 points to 12,568.76. The FBMT 100 Index experienced a climb of 27.02 points to 12,229.91, and the FBM 70 Index added 100.18 points to reach 18,967.52. The FBM ACE Index rose by 17.33 points to 5,489.89, indicating widely positive market sentiment across sectors. Furthermore, the Energy Index gained 5.56 points to 856.86, and the Financial Services Index surged 32.80 points to 19,055.87, showcasing sectorial strength alongside the overall market rally.
In summary, Bursa Malaysia opened positively, bolstered by gains in Wall Street and local developments, particularly Singapore’s Prime Minister’s visit. The trading environment reflected a favorable sentiment with significant activity across various indices, especially within the Energy and Financial Services sectors. Market participants are advised to monitor key economic indicators throughout the week for additional insights.
Original Source: www.bernama.com
