Bursa Malaysia gains in early trade as banking stocks rise
Advancing counters outnumbered decliners 320 to 83, with turnover reaching RM82.40 million.
Malaysia’s benchmark share index reached 1,611.51 at 9.10am on October 27, gaining 7.15 points, or 0.45 per cent, after Wall Street finished higher overnight. The FTSE Bursa Malaysia KLCI had ended the previous session at 1,604.36.
The opening level was 1,607.34, a rise of 2.98 points. Across Bursa Malaysia, 320 counters advanced and 83 declined; another 224 were unchanged. Trading volume totalled 170.67 million units, valued at RM82.40 million.
Banking heavyweights moved up, with Maybank reaching RM10.04 and CIMB RM7.16 after each gained six sen. Public Bank advanced three sen to RM4.76. Tenaga Nasional climbed two sen to RM13.30, while IHH Healthcare increased one sen to RM7.85.
Malaysian Pacific Industries topped the gainers with a 50-sen rise to RM41.08. ViTrox Corporation climbed 22 sen to RM10.94, while Kuala Lumpur Kepong fell 20 sen to RM20.20.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng told Bernama that US equities had rebounded as traders awaited corporate earnings reports. He said continued foreign selling had weighed on the Malaysian benchmark, with buying interest weak while crude oil remained elevated at US$115 per barrel.
