On January 6, Bursa Malaysia’s index opened higher after tracking Wall Street’s gains. The FBM KLCI stood at 1,630.96, with broader market performance showing more gainers than losers. Key economic data will be monitored this week, while sectors including Energy and Financial Services saw upward movement.
On January 6, Bursa Malaysia began the day positively, reflecting gains in the US market, specifically fueled by a surge in technology stocks. The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose to 1,630.96, a 1.50 point increase from the prior day’s close of 1,629.46. Initially, the index saw a slight increase of 0.28 points, starting at 1,629.74.
Gainers outweighed losers in the broader market, with 278 stocks advancing compared to 159 declines. The market also recorded 361 stocks remaining unchanged, 1,555 untraded, and 10 suspended. Total turnover was reported at 318.51 million units, amounting to RM181.36 million in value.
Malacca Securities Sdn Bhd highlighted the visit of Singapore’s Prime Minister to Malaysia to finalize the Johor-Singapore Special Economic Zone (JS-SEZ), which is likely to shift traders’ focus to Johor-related stocks. The firm anticipates opportunities in the Energy sector due to rising crude oil prices. They also noted that investments in data centers could positively impact sectors such as construction, building materials, and utilities.
This week, traders are expected to keep an eye on significant economic indicators, including the Eurozone Consumer Price Index (CPI), China’s CPI, and the Institute for Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI).
Key heavyweights saw mixed performance: Maybank and Tenaga Nasional rose two sen to RM10.16 and RM14.62, respectively, while Public Bank added three sen to RM4.53. Conversely, IHH Healthcare decreased by seven sen to RM7.21, while CIMB remained unchanged at RM8.11.
In active trading, Velocity Capital and Careplus each rose by one sen to 8.0 sen and 27 sen, respectively. Harvest Miracle gained 1.5 sen to reach 20.5 sen, and MYEG increased by half-a-sen to 99 sen, while Aimflex dipped by half-a-sen to 15 sen.
Analyzing the broader market, the FBM Emas Index increased by 28.73 points to 12,562.37, while the FBM Emas Shariah Index rose 22.27 points to 12,568.76. The FBMT 100 Index gained 27.02 points to reach 12,229.91, and the FBM 70 Index climbed 100.18 points to 18,967.52. The FBM ACE Index also saw an increase of 17.33 points, reaching 5,489.89.
Sector performance was noted, with the Energy Index going up by 5.56 points to 856.86, while the Financial Services Index jumped 32.80 points to 19,055.87. The Industrial Products and Services Index had a modest rise of 0.08 points to 174.53, and the Plantation Index posted an increase of 5.91 points to 7,604.42.
Bursa Malaysia’s opening on January 6 illustrated a positive trend influenced by Wall Street gains, especially in technology stocks. The broader market reflected an encouraging ratio of gainers to losers and notable performances from key indices and sectors. Significant external factors, such as the Singapore Prime Minister’s visit and rising crude oil prices, signify ongoing trading opportunities. Investors are advised to remain vigilant towards upcoming economic data that could further impact market dynamics.
Original Source: www.bernama.com
