KUALA LUMPUR: Bursa Malaysia opened higher today after the extended Raya break, despite a mixed performance on Wall Street overnight.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng expects the FBM KLCI to see sporadic bargain-hunting activities today following selling pressure since last Tuesday. Malacca Securities Sdn Bhd agreed that the energy sector may still be favoured by traders as crude oil prices remained resilient above the psychological US$80 level.“We expect traders to shift their trading tone towards stocks with defensive characteristics such as utilities and telecommunications,” it said in a research note today.
On the index board, the FBM Emas Index gained 7.18 points to 10,458.14, the FBMT 100 Index bagged 7.43 points to 10,143.14 and the FBM Emas Shariah Index increased 12.84 points to 10,788.16.