On January 6, Bursa Malaysia’s index opened higher at 1,630.96 due to Wall Street gains. Gainers surpassed losers, and trading volume reached RM181.36 million. Key market developments included a visit from Singapore’s Prime Minister and rising crude oil prices, while traders watch important economic data this week.
On January 6, Bursa Malaysia commenced the trading day with its benchmark index moving upward, influenced by positive performance on Wall Street, driven by an increase in technology stocks. By 9:10 AM, the FTSE Bursa Malaysia KLCI (FBM KLCI) registered at 1,630.96, reflecting an increase of 1.50 points from the prior close of 1,629.46, having initially opened 0.28 points higher at 1,629.74.
In the wider market, gainers surpassed losers with 278 stocks gaining against 159 that declined. The market showed 361 counters stable, 1,555 untraded, and 10 suspended. Trading volume reached 318.51 million units, valued at RM181.36 million. Malacca Securities Sdn Bhd highlighted that the visit of Singapore’s Prime Minister to Malaysia for the launch of the Johor-Singapore Special Economic Zone (JS-SEZ) has drawn traders’ attention towards Johor-related stocks.
The brokerage also noted the resurgence of crude oil prices may create further opportunities within the Energy sector and anticipates data center investments will strengthen earnings in construction, building materials, and utilities sectors. Current essential economic indicators under observation include the Eurozone Consumer Price Index (CPI), China’s CPI, and the ISM Non-Manufacturing Purchasing Managers’ Index (PMI).
Regarding major banking heavies, Maybank and Tenaga Nasional each witnessed an uptick of two sen, positioning their stocks at RM10.16 and RM14.62, respectively. Public Bank rose by three sen to RM4.53, while CIMB remained at RM8.11. Conversely, IHH Healthcare saw a decline of seven sen, settling at RM7.21.
In other active stocks, Velocity Capital and Careplus both appreciated by one sen to 8.0 sen and 27 sen, respectively. Harvest Miracle climbed by 1.5 sen to 20.5 sen, and MYEG gained half a sen to 99 sen, while Aimflex fell by half a sen to 15 sen. On the broader index front, the FBM Emas Index increased by 28.73 points to 12,562.37, and the FBM Emas Shariah Index rose 22.27 points to 12,568.76. The FBMT 100 Index climbed by 27.02 points to 12,229.91.
Sector wise, the Energy Index ascended 5.56 points to reach 856.86, followed by the Financial Services Index which surged 32.80 points to 19,055.87. The Industrial Products and Services Index made a slight gain of 0.08 points, reaching 174.53, while the Plantation Index increased by 5.91 points to 7,604.42.
In summary, Bursa Malaysia commenced the week on a positive note, buoyed by gains in technology stocks on Wall Street and strategic domestic developments, including the formalization of the Johor-Singapore Special Economic Zone. The broader market exhibited a healthy balance of gainers versus losers, with notable performance in key sectors such as Energy and Financial Services. Investors are advised to monitor upcoming economic data that could influence trading patterns further.
Original Source: www.bernama.com
