Bursa opens firm on tech, AI investment optimism
KUALA LUMPUR : Bursa Malaysia opened higher on Thursday, lifted by optimism over the country's digital investment pipeline, despite an overnight decline on Wall Street.
The ministry of investment, trade and industry said Malaysia's digital investment pipeline reached RM59.1 billion as of April 2025, fuelling growth in the artificial intelligence (AI) and technology sectors.
At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.66 points to 1,525.14 from Wednesday's close of 1,523.48. The benchmark index opened 2.12 points higher at 1,525.60.
In the broader market, decliners led gainers 147 to 123, while 237 counters were unchanged, 1,879 untraded and 110 suspended.
Turnover was 107.21 million shares worth RM57.59 million.
Wall Street closed lower overnight, following reports that the US President Donald Trump had ordered American software firms to halt services to Chinese companies, said Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng.
He noted, however, that Nvidia's earnings, released after the market closed, exceeded consensus forecasts, reviving investor sentiment and lifting US futures.
Back home, the FBM KLCI had fallen on May 28 despite a strong start, as market sentiment remained fragile.
'As such, we expect the ongoing consolidation to persist in the absence of catalysts, with the index likely to hover between 1,520 and 1,530 today,' he added.
Among heavyweights, Malayan Banking added two sen to RM9.86, Public Bank rose one sen to RM4.34, and CIMB gained three sen to RM6.90. Tenaga Nasional was flat at RM14.10, while IHH Healthcare eased one sen to RM6.90.
In active trade, Avangaad, Harvest Miracle, MYEG and Sumisaujana were unchanged at 28 sen, 18 sen, 89 sen and 17.5 sen respectively, while Nationgate added three sen to RM1.61.
On the index board, the FBM Emas Index advanced 7.37 points to 11,404.54, the FBMT 100 Index rose 8.73 points to 11,170.10, and the FBM ACE Index gained 6.24 points to 4,555.58.
The FBM Emas Shariah Index edged up 1.35 points to 11,376.86, while the FBM 70 Index slipped 0.68 of a point to 16,305.97.
By sector, the Financial Services Index added 13.43 points to 17,971.33, the Industrial Products and Services Index eased 0.09 of a point to 152.61, the Energy Index fell 2.39 points to 704.12, while the Plantation Index rose 2.29 points to 7,294.84.
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