FBM KLCI opens higher, mirroring Wall Street's rally

Bursa Malaysia's thirty-stock index opened higher today, tracking cues from Wall Street's strong overnight performance. 

At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.65 points to 1,511.47 from Monday's close of 1,503.82. The benchmark index opened 6.25 points higher at 1,510.07.

On the broader market, gainers surpassed decliners 211 to 81, with 211 counters unchanged, 1,933 untraded, and 16 suspended.

Turnover stood at 130.19 million shares worth RM59.74 million.

Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said Wall Street closed broadly higher in hopes that US President Donald Trump would hold back some of his wide ranging tariff plans, so that the US may avert an economic slowdown and rising inflation.

"The market undertone seems robust despite the inherent concern over Trump's tariffs going forward," he said. 

Back home, Thong said the FBM KLCI ended yesterday slightly lower but managed to stay above the 1,500 mark as selling by foreign funds persisted amid a choppy session. 

"Outlook remains boring as the daily volume is still stuck at around the three billion shares level. 

"In view of a lack of fresh funds, we expect the index to hover within the 1,500 to 1,510 range again today," he added. 

Among the heavyweights, Malayan Banking Bhd added eight sen to RM10.24, CIMB Group Holdings Bhd rose four sen to RM6.96, IHH Healthcare Bhd gained three sen to RM6.98 and Public Bank Bhd garnered one sen sen to  RM4.49, while Tenaga Nasional Bhd remained unchanged at RM13.56.

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