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Bursa opens higher on positive global sentiment

On the broader market, losers pipped gainers 194 to 189, while 270 counters were unchanged, 1,469 untraded and 32 others suspended. — Picture by Hari Anggara

KUALA LUMPUR, Jan 22 — Bursa Malaysia opened higher in early trade today, mirroring global stocks that reached new heights after Joseph Biden was sworn in to become the 46th United States (US) president.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.13 points to 1,598.93 from 1,594.8 at yesterday’s close.

The index opened 1.26 points higher at 1,596.06.

On the broader market, losers pipped gainers 194 to 189, while 270 counters were unchanged, 1,469 untraded and 32 others suspended.

Total volume stood at 375.91 million units worth RM122.99 million.

Public Investment Bank said the FBM KLCI might end the week on a positive note following Biden’s inauguration, as investors welcomed the 46th US president’s promise of US$1.9 trillion in stimulus spending and the jettisoning of isolationist policies pursued by his predecessor.

The S&P 500 index gained 0.03 per cent, Nasdaq improved 0.55 per cent and the Dow Jones eased 0.04 per cent.

“Following his inauguration, President Biden swiftly overturned some of his predecessor Donald Trump’s actions, signing orders to rejoin the Paris climate accord, halting the US withdrawal from the World Health Organization and scrapping a ban on entry to the country by citizens from some Muslim-majority nations,” the investment bank said in a note today.

Among the heavyweights, Maybank rose four sen to RM8.09, Public Bank added 12 sen to RM21.68, Tenaga increased three sen to RM9.91, Top Glove improved eight sen to RM6.10, and PChem was flat at RM7.35.

Of the actives, KTG rose half-a-sen to 25 sen, while Dagang Nexchange and XOX were flat at 25.5 sen and 9.5 sen, respectively.

Meanwhile DGB Asia eased half-a-sen to 10 sen.

On the index board, the FBM Emas Index gained 25.53 points to 11,558.9, the FBMT 100 Index expanded 23.9 points to 11,293.21, and the FBM Emas Shariah Index was 35.75 points higher at 13,021.43.

The FBM 70 rose 10.65 points to 14,833.17 and the FBM ACE increased 14.85 points to 10,739.31.

Sector-wise, the Financial Services Index climbed 20.28 points to 14,907.07, the Plantation Index increased 6.57 points to 7,237.49, while the Industrial Products and Services Index slipped 0.01 of-a-point to 177.88. — Bernama

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