KUALA LUMPUR: Bursa Malaysia rebounded to open slightly higher on Tuesday, tracking gains on Wall Street overnight despite the cautious mode ahead of monetary policy decisions around the globe this week.
At 9.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.59 of-a-point to 1,474.97 from yesterday's closing of 1,474.38.
The market bellwether opened 2.15 points higher at 1,476.53.
On the broader market, gainers surpassed decliners 234 to 95, while 231 counters were unchanged, 1,702 untraded and 10 others suspended.
Turnover stood at 212.65 million units worth RM143.79 million.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Wall Street staged a relief rebound as focus had now shifted to new inflation data and the United States Federal Reserve's move on interest rates.
Nevertheless, he said, the local bourse was expected to continue its lacklustre session as sentiment remained cautious in line with a weaker performance regionally.
"We expect the same for today despite the rebound on Wall Street overnight; hence expect the index to maintain its trend within the 1,470-1,485 range," he told Bernama.
Among the heavyweights, Maybank shed two sen to RM8.68, Public Bank and Petronas Chemicals eased one sen each to RM4.39 and RM8.47, respectively, and CIMB and TNB both added two sen each to RM5.76 and RM9.22, respectively.
Of the actives, newly Main Market-listed ITMAX jumped 37 sen to RM1.44, Velesto inched up half-a-sen to 16 sen, Yew Lee rose one sen to 37 sen, Advance Synergy stayed flat at 18 sen, and Leform gained 1.5 sen to 22 sen.
On the index board, the FBM Emas Index advanced 15.16 points to 10,601.68, the FBMT 100 Index ticked up 13.83 points to 10,302.41, the FBM Emas Shariah Index strengthened 21.74 points to 10,754.89, the FBM 70 edged up 56.43 points to 12,974.70, and the FBM ACE rose 27.23 points to 5,520.87.
Sector-wise, the Financial Services Index was 8.23 points higher at 16,548.06, the Plantation Index added 6.09 points lower at 6,758.58, the Industrial Products and Services Index increased 0.23 of-a-point to 181.66, and the Energy Index climbed 6.77 points to 785.23.
-- BERNAMA
Bernama
Tue Dec 13 2022
On the broader market, gainers surpassed decliners 234 to 95, while 231 counters were unchanged, 1,702 untraded and 10 others suspended. - BERNAMA
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.