Qualampur: Barsa Malaysia today opened up the highest wall street on a weak wall street ahead of the United States (US) inflation figures today, as it is expected that it will determine the federal reserve stance on a possible rate cut.
At 9.05 am, FTSE Barsa Malaysia KLCI (FBM KLCI) increased by 6.45 points or 0.41 percent to 1,569.69 to 1,563.24 to 1,569.69.
The benchmark index was earlier reduced to 1.41 points at 1,561.83.
The width of the market was positive, with an increase of 125 to 88 with the Advancers. Another 238 counters were unchanged, 2,070 uncontrolled and eight were suspended.
The turnover was RM49.14 million shares in 144.19 million shares.
Rakuten Trade SDN BHD Equity Research Thong Pak Lang Vice President said that as expected, the US has extended its tariff’s deadline on China to another 90 days.
He said, “The US 10-year yield has decreased by 4.279 percent. In Hong Kong, the Hang Seng Index has a slight more overwhelm between the business session as Bhavna was alert before the end of the US-China tariff Trus,” he told Bernma.
Back home, he sees the tariff deadline expansion as a positive catalyst on China and believes that America may eventually trust.
“Therefore, we expect to hover the index between 1,555–1,570 range,” he said.
In heavyweight, Mebank added six Sen to RM9.71, CIMB brought two Sen to RM6.96, but Tenaga Nasional and IHHH Healthcare dropped each Sen from each in RM13.64 and RM6.94, while the public bank was flat at RM4.40.
In the actively trading list, Classita took 1.5 Sen to 10.5 Sen, Nexag from 2.5 Sen to 40 Sen, Framamiaga and Magma respectively, from 18.5 Sen and 40 Sen to half-to-seven, while TWL was flat at 2.5 Sen.
In the broad market, FBM Emas Index 34.18 points expanded to 11,681.31, FBMT 100 index 34.22 points increased to 11,463.94, FBM EMAS Shariaah Index 34.49 points increased to 11,682.16, while FBM ACEX TRIMMMED ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTING ANTINT ANTING A Anating anting ainked 4,6 weak 7.22 points at 16,588.42.
According to the sector, the Financial Services Index climbed 58.89 points to 17,786.72, the plantation index rose 52.95 points to 7,517.03 at 7,517.03, 0.52 of a point at 159.30 in industrial products and service index, and the energy index appreciated 1.64 points. – Bernma
