Bursa Malaysia Opens Slightly Higher After OPR Cut Lifts Sentiment

KUALA LUMPUR, July 10 (Bernama) -- Bursa Malaysia opened slightly higher on Thursday, supported by a modest improvement in sentiment following Bank Negara Malaysia’s decision to cut the Overnight Policy Rate (OPR) by 25 basis points to 2.75 per cent on Wednesday.

At 9.07 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.85 of-a-point, or 0.06 per cent, to 1,530.09 from Wednesday’s close of 1,529.24. The benchmark index had earlier opened 2.19 points higher at 1,531.43.

Market breadth was positive, with gainers outpacing losers 193 to 101, while 256 counters were unchanged, 1,868 untraded, and 10 suspended. Turnover stood at 921.01 million shares worth RM63.50 million.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the rate cut may put marginal pressure on the ringgit, which in turn could help offset the United States’ 25 per cent trade tariff.

“Also, within a low interest rate regime, banks may benefit from improved loan activities. As a result, we expect the index to trend between the 1,530–1,540 range today,” he said in a note.

Thong added that Wall Street rebounded overnight despite continued uncertainty over US President Donald Trump’s tariff policy, with sentiment buoyed by artificial intelligence (AI)-driven trades.

“Expectations that the US Federal Reserve will cut interest rates later this month also pushed the US 10-year yield down to 4.36 per cent,” he said.

Among heavyweights, Maybank was unchanged at RM9.70, while Public Bank and CIMB Group rose three sen each to RM4.29 and RM6.60, respectively. Tenaga Nasional slipped four sen to RM13.96, and IHH Healthcare declined 10 sen to RM6.57.

In active trade, Green Ocean and Magma Group added one sen each to 11 sen and 49 sen, respectively. TWL Holdings rose half-a-sen to three sen, Eco Shop gained two sen to RM1.29, while NexG was flat at 44.5 sen.

On the broader index board, the FBM Emas Index advanced 12.91 points to 11,497.13, the FBMT 100 Index added 10.98 points to 11,260.52, and the FBM Emas Shariah Index was up 1.70 points at 11,488.59.

The FBM 70 Index climbed 36.82 points to 16,671.76, while the FBM ACE Index inched up 1.33 points to 4,497.96.

By sector, the Financial Services Index gained 30.27 points to 17,535.76, the Industrial Products and Services Index rose 0.27 of a point to 153.49, the Plantation Index eased 21.77 points to 7,457.31, and the Energy Index slipped 0.52 of a point to 736.38.

-- BERNAMA