A long holiday helped avert a scare; Malaysian stocks opened with a gap up!
(Kuala Lumpur, Feb 3)Bursa Malaysia was closed for one day yesterday due to the Thaipusam public hol...
(Kuala Lumpur, Feb 3)
Bursa Malaysia was closed for one day yesterday due to the Thaipusam public holiday, helping it avoid the sharp swings seen across Asian markets. Trading resumed today with a positive tone, supported by gains in the three major U.S. indices overnight, as the FBM KLCI opened higher with a gap-up.
As of 9:10 a.m., the KLCI stood at 1,755.44, up 14.56 points or 0.84%. The index opened at 1,756.09, a gap of 15.21 points above last Friday’s close of 1,740.88, indicating improved market sentiment.
By the same time, total volume reached 219.75 million shares with turnover of RM199.29 million. Market breadth was positive, with 270 gainers, 194 losers, and 359 unchanged counters.
Sector-wise, 10 sector indices advanced in early trade, led by plantations (+0.9%) and utilities (+0.8%). Construction and energy lagged, falling 0.7% and 0.3% respectively.
On the active list, Gamuda declined 12 sen or 2.7% to RM4.30 on around 7.14 million shares, ranking as the third most actively traded stock and among the notable decliners.
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