Kuala lumpur: Bursa Malaysia opened higher on Monday, reflecting overnight gains on Wall Street as investors showed renewed interest in technology stocks, which continue to benefit from the ongoing artificial intelligence (AI) supercycle. At 9.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 7.50 points to 1,691.13 from last week's close of 1,683.63. The index had opened 6.76 points up at 1,690.39.
According to BERNAMA News Agency, market breadth was positive, with gainers leading losers 349 to 160. A total of 273 counters remained unchanged, with 1,915 untraded and 36 suspended. Turnover stood at 539.66 million shares, valued at RM217.18 million.
Malacca Securities Sdn Bhd noted that the rebound in the technology sector is expected to continue, with semiconductor companies poised to benefit from the AI supercycle. It also highlighted that investor risk appetite might stay elevated as Elon Musk's SpaceX made its historic debut on Wall Street, closing at a US$2.1 trillion valuation on its first day of trading.
Among the heavyweights, Maybank and CIMB saw increases, rising 16 sen to RM10.88 and RM7.55 respectively. Public Bank added four sen to RM4.87, Tenaga Nasional increased by 10 sen to RM14.52, and IHH Healthcare climbed three sen to RM8.81.
In terms of active stocks, Hong Seng Consolidated remained flat at one sen, Tanco declined by five sen to 15 sen, and Top Glove decreased by one sen to 79.5 sen. ACE Market debutant Pentech gained five sen to 25 sen, while AirAsia X increased by six sen to RM1.26.
Among top gainers, Malaysian Pacific Industries rose RM1.28 to RM48.78, Nestle went up RM1.20 to RM96.80, Batu Kawan added 50 sen to RM20.80, Vitrox edged up 23 sen to RM7.47, and Sunway Construction accumulated 17 sen to RM7.22.
Conversely, Paragon fell 98 sen to RM2.29, Petronas Chemicals slid 47 sen to RM4.87, Ralco decreased 29 sen to 69 sen, Concrete Engineering lost 20 sen to RM4.00, and United Plantations went down 18 sen to RM31.32.
On the index board, the FBM Emas Index gained 63.95 points to 12,538.57, while the FBM Top 100 Index increased by 61.56 points to 12,377.50, and the FBM Emas Shariah Index rose by 31.92 points to 12,454.22. The FBM Mid 70 Index jumped 118.27 points to 18,002.42, and the FBM ACE Index gained 43.79 points to 4,712.46.
By sector, the Financial Services Index surged 186.34 points to 19,830.70, and the Plantation Index expanded by 15.95 points to 8,768.03, while the Industrial Products and Services Index decreased 2.85 points to 194.08, and the Energy Index declined 9.41 points to 765.96.