KUALA LUMPUR: Bursa Malaysia opened slightly higher on Tuesday, supported by mild bargain hunting as the Thailand-Cambodia truce helped ease regional political concerns.
At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.29 points, or 0.08 per cent, to 1,530.67 from Monday’s close of 1,529.38.
The benchmark index had opened 0.20 of a point firmer at 1,529.58.
Market breadth was slightly negative, with decliners leading gainers 171 to 137. A total of 288 counters were unchanged, 1,925 untraded, and 44 suspended.
Turnover stood at 231.67 million shares worth RM112.10 million.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI could attract further bargain hunting following the unconditional ceasefire agreement between Thailand and Cambodia.
He said this was supported by the diplomatic efforts of Prime Minister Datuk Seri Anwar Ibrahim, who brokered the agreement between both countries.
Anwar announced the ceasefire after chairing a special meeting on Monday at Putrajaya, attended by Cambodian Prime Minister Hun Manet and Thailand’s acting Prime Minister Phumtham Wechayachai.
Meanwhile, Thong said Bank Negara Malaysia’s (BNM) downward revision of the 2025 gross domestic product (GDP) growth forecast would likely have minimal impact on the local market.
He noted that the earlier cut in the overnight policy rate (OPR) could help cushion the impact of the GDP revision, as investor focus shifts to corporate earnings.
“There will likely be no significant reaction unless there is a major upgrade to the GDP outlook.
“As such, we expect the index to hover between the 1,530 and 1,545 range today,” he told Bernama.
Among the heavyweights, Maybank rose one sen to RM9.55, Tenaga Nasional gained eight sen to RM13.44, while CIMB eased two sen to RM6.73. Public Bank and IHH Healthcare were flat at RM4.25 and RM6.66, respectively.
On the actively traded list, ACE Market debutant Oxford Innotech climbed nine sen to 38 sen, NexG and TWL were unchanged at 53 sen and 2.5 sen, Ekovest shed 3.5 sen to 40.5 sen, and Pharmaniaga fell 2.5 sen to 19 sen.
Top gainers included Kuala Lumpur Kepong, which advanced 24 sen to RM20.04; Hong Leong Industries, up 12 sen to RM13.12; and DKLS Industries, which rose five sen to RM1.85.
Among the top losers, Nestle slipped 90 sen to RM87.10, and United Plantations declined 12 sen to RM21.78.
On the broader market, the FBM Emas Index rose 5.18 points to 11,477.38, the FBMT 100 Index added 7.83 points to 11,240.28, and the FBM Emas Shariah Index gained 8.80 points to 11,498.84.
The FBM 70 Index edged up 4.23 points to 16,534.64, while the FBM ACE Index inched up 3.39 points to 4,639.99.
Sector-wise, the Financial Services Index added 0.15 of a point to 17,408.52, the Industrial Products and Services Index was up 0.07 of a point at 157.46, the Energy Index fell 2.05 points to 738.74, and the Plantation Index dropped 21.02 points to 7,442.21. - Bernama
