Bursa Malaysia Kicks Off Higher, Mirrors Wall Street Gains
KUALA LUMPUR, May 20 (Bernama) -- Bursa Malaysia opened slightly higher on Tuesday, rebounding from yesterday's decline as investors tracked an overnight rally on Wall Street.
At 9.07 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.09 points, or 0.13 per cent, to 1,558.23 from Monday's close of 1,556.14.
The benchmark index had opened 0.78 of-a-point higher at 1,556.92.
Market breadth was positive, with 256 gainers outpacing 101 decliners. A total of 202 counters were unchanged, 1,850 untraded, and 17 suspended.
Turnover stood at 123.18 million shares valued at RM58.98 million.
Hong Leong Investment Bank (HLIB), in a note, said it expects the FBM KLCI to trend sideways during the ongoing corporate results season, amid a tariff-driven global economic slowdown that could weigh on domestic activity and earnings.
'This cautious outlook will likely persist until a permanent and mutually beneficial trade deal is reached between the United States and key trading partners, including Malaysia,' the investment bank said.
HLIB added that lingering policy uncertainty from the Trump administration and unclear signals on the Federal Reserve's rate path would continue to pressure market sentiment and business confidence.
Among heavyweights, CIMB and Petronas Gas added 2.0 sen each to RM7.12 and RM17.60, respectively. Public Bank and Press Metal were unchanged at RM4.49 and RM4.96, while Maybank, Tenaga Nasional and IHH Healthcare slipped 2.0 sen each to RM10.12, RM14.08 and RM6.97.
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