Bursa Malaysia opened higher on January 6, 2023, buoyed by Wall Street gains and local developments such as the Johor-Singapore Special Economic Zone. The benchmark FBM KLCI rose to 1,630.96, with positive performances in multiple sectors and notable stocks such as Maybank and Tenaga Nasional seeing increases. Market turnover stood at RM181.36 million, highlighting trading activity amid economic data monitoring.
On January 6, Bursa Malaysia commenced trading on a positive note, influenced by the robust performance of Wall Street, driven largely by heightened interest in technology stocks. At 9:10 AM, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was recorded at 1,630.96, reflecting an increase of 1.50 points from the previous day’s close of 1,629.46. It initially opened at 1,629.74, marking an increase of 0.28 points.
In the broader market scope, gainers surpassed losers with 278 stocks advancing, while 159 declined, 361 remained unchanged, and 1,555 were untraded, with 10 suspended. The market turnover reached 318.51 million units, amounting to RM181.36 million. Malacca Securities Sdn Bhd highlighted the visit of Singapore’s Prime Minister to Malaysia, aimed at formalizing the Johor-Singapore Special Economic Zone (JS-SEZ), which may encourage investment in Johor-related equities.
The recent surge in crude oil prices is anticipated to create further trading opportunities in the Energy sector. The note from Malacca Securities indicated that investments in data centers are set to enhance earnings in various sectors, including construction, building materials, and utilities. As the week progresses, traders are advised to observe significant economic indicators such as the Eurozone Consumer Price Index (CPI) and the Institute for Supply Management (ISM) Non-Manufacturing Purchasing Managers’ Index (PMI).
Among prominent stocks, Maybank and Tenaga Nasional each saw a rise of two sen, reaching RM10.16 and RM14.62, respectively. Public Bank increased by three sen to RM4.53, whereas CIMB remained unchanged at RM8.11. In contrast, IHH Healthcare experienced a decline of seven sen, landing at RM7.21. Active stocks included Velocity Capital and Careplus, each appreciating by one sen to 8.0 sen and 27 sen, respectively, while Harvest Miracle added 1.5 sen to 20.5 sen, and MYEG inched up by half-a-sen to 99 sen.
The broader index also experienced gains, with the FBM Emas Index rising by 28.73 points to 12,562.37, the FBM Emas Shariah Index increasing by 22.27 points to 12,568.76, and the FBMT 100 Index climbing by 27.02 points to 12,229.91. Additionally, the FBM 70 Index improved by 100.18 points to 18,967.52, while the FBM ACE Index increased by 17.33 points to 5,489.89, reflecting positive movements across various sectors. The Energy Index gained 5.56 points to 856.86, the Financial Services Index jumped 32.80 points to 19,055.87, and the Plantation Index rose by 5.91 points to 7,604.42.
Overall, the market’s upward momentum is indicative of a positive trading outlook, supported by external economic influences and sectoral performance.
In conclusion, Bursa Malaysia’s opening reflects a favorable trading climate, driven by Wall Street’s gains and local developments such as the Johor-Singapore Special Economic Zone’s formalization. The various indices illustrated a strong market response across multiple sectors, hinting at sustained investment interest and potential growth in the coming week as traders closely monitor key economic indicators. Noteworthy stocks displayed positive trends, reinforcing investor confidence.
Original Source: www.bernama.com
