KUALA LUMPUR:Bursa Malaysia opened mixed on Friday, supported by buying interest in selected consumer products and services, as well as healthcare counters, amid the weaker sentiment on the Asian markets, dealers said.
At 9.15 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.49 points to 1,589.11 from 1,580.62 at Wednesday's close.
The index opened 16.54 points higher at 1,597.16.
On the broader market, losers led gainers 409 to 261, while 348 counters were unchanged, 1,147 untraded and 62 others suspended.
Total volume stood at 819.264 million units worth RM894.58 million.
In a note today, Malacca Securities said the rebound on Wall Street overnight, coupled with the relaxation of the Movement Control Order (MCO) to allow all businesses to operate until 10pm may contribute to some positive impact on the market, albeit rising COVID-19 cases that may still dampen the economic recovery.
"The FBM KLCI outperformed its regional peers to end mildly higher on Wednesday following the announcement by the Health Ministry on the supply of 18.4 million doses of COVID-19 vaccines by Pharmaniaga and Dpharma in March 2021.
"We continue to favour the consumer products and services sector for its earning certainties during the reporting season. Besides, traders may look out for plantation counters following the surge in crude palm oil price, while technology stocks may still be in the uptrend mode but subject to profit-taking activities afterstrong gains," it said.
Among the heavyweights, Maybank gained 6.0 sen to RM7.93, TNB advanced 4.0 sen to RM9.82, Top Glove added 62 sen to RM6.83, while Public Bank slipped 6.0 sen to RM4.30, and Petronas Chemicals fell 3.0 sen to RM6.82.
Of the actives, P.A. Resources improved 1.0 sen to 21 sen, Vivocom perked 5.5 sen to RM1.02, while AT Systematization and Luster Industries earned half-a-sen each to 17.5 sen and 19.5 sen, respectively.
On the index board, the FBM Emas Index surged 33.50 points to 11,488.64, the FBMT 100 Index jumped 38.69 points to 11,229.08, and the FBM Emas Shariah Index was 68.71 points higher at 12,984.31.
The FBM 70 decreased 31.87 points to 14,769.52, while the FBM ACE slipped 5.77 points to 11,160.07.
Sector-wise, the Financial Services Index shed 16.95 points to 14,729.29, the Plantation Index declined 9.96 points to 7,137.20, and the Industrial Products and Services Index eased 1.55 points to 169.59.
-- BERNAMA
Bernama
Fri Jan 29 2021
The rebound on Wall Street overnight, coupled with the relaxation of the MCO to allow all businesses to operate until 10pm may contribute to some positive impact on the market. - Filepix
ISIS Malaysia's perspective of Budget 2025
An excellent rakyat-centric budget under the overarching principle of a caring and humane economy.
Budget 2025: Record increase in STR, SARA aid initiatives
The government will provide a significant boost to the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA) initiatives next year.
Budget 2025: EPF contributions to be made mandatory for foreign workers – PM Anwar
The government plans to make it compulsory for all non-citizen workers to contribute to the Employees Provident Fund (EPF).
What policies to expect from Indonesia's new President Prabowo
Prabowo will be open to foreign investment, his aide has said, such as by offering investors management of airports and sea ports.
Budget 2025: Govt allocates RM470 mil to empower women's participation in PMKS
The Women's Leadership Apprenticeship Program will be intensified as an effort to produce more female corporate personalities.
Israel sends more troops into north Gaza, deepens raid
Residents of Jabalia in northern Gaza said Israeli tanks had reached the heart of the camp, using heavy air and ground fire.
Indonesia ramps up security ahead of Prabowo's inauguration
Prabowo Subianto will be sworn in as Indonesia's president on Sunday with Vice President-elect, Gibran Rakabuming Raka, also taking office.
Immediate allocation of RM150 mil for local authorities, DID to tackle flash floods
Datuk Seri Anwar Ibrahim said this allocation is intended to address the recent flash floods that hit the capital and several major towns.
Budget 2025: Sabah, Sarawak to continue receiving among highest allocations - PM
Sabah and Sarawak continues to be prioritised under Budget 2025, with allocations of RM6.7 billion and RM5.9 billion respectively.
NFOF will be operational in November 2024 with funding of RM1 bil
PM Anwar Ibrahim said NFOF will support venture capital fund managers to invest in startup companies with RM300 million set aside for 2025.
Minimum wage to increase to RM1,700 effective Feb 1, 2025
The Progressive Wage Policy would be fully enforced next year with an allocation of RM200 million, benefiting 50,000 workers.
Bursa Malaysia ends higher on Budget 2025 optimism
The benchmark index, which opened 1.85 points higher at 1,643.29, moved between 1,641.71 and 1,649.31 throughout the trading session.
Five important aspects relating to people’s lives in Budget 2025 - PM
The focus is on driving the MADANI Economy, speeding reforms, cutting red tape, raising wages, and tackling the cost of living.
Economic outlook: Govt plans to leverage, expand existing city transit system
The expansion aims to provide a more efficient and reliable public transportation network, reduce congestion, and improve accessibility.
Economic outlook: Budget 2025 to lay foundation for a digital-driven economy
The report said Budget 2025 will entail efforts to position Kuala Lumpur as a top 20 global startup hub by 2030 through the KL20 initiative.
Economic outlook: Corruption and lack of accountability hinder economic progress
Special Cabinet Committee on National governance is established to curb corruption, law reforms to modernise outdate regulations, MoF said.
National Wages Consultative Council will be strengthened
The govt will also incentivise hiring women returning from career breaks, offer job matching and improve care services facilities.
Economic outlook: Ensuring 11 years of compulsory education for all children
Budget 2025 will continue prioritising upskilling and retraining initiatives to equip workers with the latest skill sets necessary.
Consolidated public sector projected to record lower surplus of RM41.7 bil 2024
The MoF said the consolidated general government revenue is estimated to increase slightly to RM384.7 billion in 2024.
PM announces substantial Budget 2025 hastening Malaysia to become Asian economic powerhouse
Datuk Seri Anwar Ibrahim said it would create jobs and also tackle financial leakages to enhance public spending efficiency.