Qualampur: Barsa Malaysia opened up higher on Thursday, the benchmark index dissolved the 1,530 level after three days of trading, which improved domestic sentiment following the policy announcements supported by optimism on the US-China trade negotiations and recent policy announcements.
At 9.06 am, FTSE Barsa Malaysia KLCI (FBM KLCI) rose 1.48 points to 1,531.27 on Wednesday from about 1,529.79.
The index opened 1.26 points at 1,531.05.
The turnover of 174.73 million shares is priced at RM85.33 million.
Rakten Trade SDN BHD Equity Research Vice President Thong Pak Lang said that FBM KLCI closed near 1,530 level on Wednesday, supported by positive announcements for all Malaysians of Prime Minister Datuk Seri Anwar Ibrahim.
He said, “This is certainly a surprising feel-graduate factor, possibly intended to move forward to reduce the tax burden of sales and services. Is this speed durable, it is yet to be seen, but we expect the index to trade within 1,530-1,540 range today,” he told the Bernma.
On the Global Front, Thong stated that Wall Street grew widely as the latest progress in business talks increased confidence.
Meanwhile, the yield of the US 10-year-old Treasury decreased by 4.384 percent.
In Hong Kong, the Hang Seng index r
Among the heavyweight counters, Mebank, 99 Speedmart and SD Guthari added three Sen to RM9.62, RM2.37 and RM4.78 respectively. The PPB brought 17 Sen to RM 9.47, while Petronas Chemicals took two Sen to RM 3.39.
The top beneficiaries were led by Nestle, who jumped 60 Sen to RM77.50. United Plantations added 20 Sen to RM22.00, Hong Leong Industries reached RM 145.96 from six Sen, and Unisem received RM 2.26 to five Sen.
The active counters were led by Nexg and TWL, which were unchanged in 52 Sen and 2.5 Sen respectively. Sunzen Warrant connected half Sen Sen with 10 Sen, TT Vision upgraded Sen from 3.5 Sen to 60 Sen, while SFP technologies and dharna VTEC obtained 20.5 Sen and 60.5 Sen to Sen from a Sen from a Sen respectively.
On the comprehensive index board, the FBM Emas Index rose 13.47 points to 11,508.02, the FBMT 100 index rose 11.75 points to 11,265.91, and FBM EMAS Shariah Index 11.34 points increased by 11,527.82.
The FBM 70 index increased by 21.17 points at 16,665.26, while the FBM Ace Index added 2.25 points to 4,667.30.
According to the sector, the Financial Services Index rose 27.47 points to 17,457.72, the energy index submerged 0.92 to 742.26, the plantation index rose 16.49 points to 7,427.93, and the industrial products and service index increased to 155.47. – Bernma
