Bursa Malaysia extends run of higher openings as KLCI gains 0.29 per cent
Advancing counters outnumbered decliners 198 to 104 after Wall Street gains and the Federal Reserve’s decision to leave US interest rates unchanged.
Malaysia’s benchmark share index reached 1,618.58 at 9.10 am on October 29, gaining 4.71 points, equivalent to 0.29 per cent. Bursa Malaysia recorded its third successive higher opening, following an overnight advance on Wall Street after the US Federal Reserve held interest rates steady.
The FTSE Bursa Malaysia KLCI started at 1,614.44, an opening increase of 0.57 of a point from its previous close of 1,613.87. Trading involved 173.26 million units with a value of RM74.17 million. There were 198 advancing counters against 104 decliners; another 291 were unchanged, with 2,284 untraded and 161 suspended.
Thong Pak Leng, vice-president of equity research at Rakuten Trade Sdn Bhd, said the Fed’s decision to retain its 3.75 per cent to 4.00 per cent rate range was broadly anticipated, though inflation concerns persisted. He described the Malaysian benchmark as gradually stabilising, with light trading suggesting investors were still selective.
Tenaga Nasional’s 10 sen advance took it to RM13.32. Public Bank finished the early snapshot at RM4.74 and CIMB at RM7.14, each gaining three sen. Maybank’s one sen increase brought it to RM10.00, whereas IHH Healthcare held steady at RM7.83.
Nestle recorded the largest gain, rising 52 sen to reach RM98.50. Among declining stocks, United Plantations fell 16 sen, leaving it at RM29.16. The sector indices diverged: financial services added 62.23 points to reach 18,641.47, while plantations retreated 5.12 points to 8,641.71.
