Bursa Rebounds After Lower Open On Economic Optimism
KUALA LUMPUR, July 2 (Bernama) -- Bursa Malaysia opened marginally lower on Wednesday but rebounded soon after, supported by continued buying in selected heavyweights amid optimism over the domestic economic outlook, an analyst said.
At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.48 points, or 0.23 per cent, to 1,545.01 from Tuesday’s close of 1,541.53.
The benchmark index had earlier opened 1.80 points lower at 1,539.73.
Market breadth was positive, with 187 gainers outpacing 139 decliners. A total of 299 counters were unchanged, while 1,766 were untraded and 14 suspended.
Turnover stood at 168.64 million shares worth RM133.79 million.
Malacca Securities Sdn Bhd said that with a weak lead from overnight Wall Street, the local bourse was expected to open on a muted note.
“However, we maintain a positive stance on data centre and renewable energy-related stocks, given the recent agreement signed by Gamuda with a renewable energy developer.
“Also, with Tenaga Nasional’s capital expenditure extending into the second half of 2025, we believe this will benefit power infrastructure specialists and cable manufacturers,” the brokerage said in a note.
On the construction front, Malacca Securities expected the sector to trade on firmer footing, supported by higher project billings and anticipation of the final alignment announcement for the Autonomous Rail Rapid Transit (ART) system in Johor, estimated to be worth between RM6 billion and RM7 billion.
Among the heavyweights, Maybank rose 5.0 sen to RM9.77, Public Bank added 2.0 sen to RM4.28, CIMB and IHH Healthcare gained 1.0 sen each to RM6.76 and RM6.81, respectively, while Tenaga Nasional was flat at RM14.90.
In active trade, TWL and newly listed ASM Automation were flat at 4.0 sen and 17 sen, respectively. NEXG rose half-a-sen to 38 sen, while Gamuda advanced 5.0 sen to RM5.02.
On the index board, the FBM Emas Index climbed 20.76 points to 11,545.35, the FBMT 100 Index gained 19.85 points to 11,323.67, and the FBM Emas Shariah Index advanced 18.12 points to 11,579.53.
The FBM 70 Index edged up 3.96 points to 16,561.33, while the FBM ACE Index slipped 4.19 points to 4,487.82.
By sector, the Financial Services Index climbed 37.15 points to 17,641.79, the Plantation Index added 11.28 points to 7,413.44, and the Energy Index rose 2.75 points to 744.29. The Industrial Products and Services Index eased 0.32 of-a-point to 153.98.
-- BERNAMA
