At 9.08 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.50 of a point better at 1,762.43 from Tuesday’s close of 1,762.93.
The index opened 1.98 points weaker at 1,760.95.
However, the broader market was positive with gainers leading losers 183 to 88 with 209 counters unchanged, 1,450 untraded and 28 others suspended.
Volume stood at 170.56 million units valued at RM90.06 million.
A dealer said Asian stocks were mostly higher in early trade today in tracking Wall Street’s better performance on another bout of strong earnings, which reignited optimism, with technology and healthcare-based companies driving benchmarks higher.
He said markets in Asia were also lifted by news of the Chinese government taking steps to boost growth, which include infrastructure spending and tax cuts.
Maybank Investment Bank Bhd in a research note said Bursa Malaysia is set to extend its gains today as sentiment could be boosted by firmer overnight US markets as well as China’s move to shore up growth.
” However, the market is expected to see rotational buying in second and third liners. Technically, we expect the FBM KLCI to trade between 1,750 and 1,780 today. Downside supports are 1,726 and 1,709,” it added.
Among heavyweights, Maybank added one sen to RM9.78, Public Bank gained two sen to RM24, Tenaga bagged four sen to RM14.82, while Petronas Chemicals and CIMB were flat at RM8.80 and RM5.86 respectively.
Among actives, Cuscapi edged up half-a-sen to 30.5 sen, WCT Holdings added five sen to RM1.04, Foundpac improved 1.5 sen to 38 sen while MRCB and Priceworth International were flat at 78 sen and 7.5 sen respectively.
The FBM Emas Index was 6.68 points better at 12,540.51, the FBMT 100 Index added 3.86 points to 12,315.09 and the FBM Ace Index bagged 16.20 points to 5,498.58.
The FBM Emas Shariah Index advanced 10.43 points to 12,682.64 and the FBM 70 rose 32.30 points to 15,559.71.
Sector-wise, the Finance Index improved 8.74 points to 17,357.49, the Industrial Index gained 3.07 points to 3,239.96 but the Plantation Index was down 54.20 points to 7,514.38.