Firm corporate results lift Bursa Malaysia higher at opening

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 12.07 points ― or 0.77 per cent ― to 1,577.12 from 1,565.05 at yesterday’s closing. — Reuters pic

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KUALA LUMPUR, Feb 24 ― Bursa Malaysia rebounded from yesterday’s losses to open higher today as a spate of firm corporate results released yesterday provided positive market catalysts.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) jumped 12.07 points ― or 0.77 per cent ― to 1,577.12 from 1,565.05 at yesterday’s closing.

The key index opened 5.96 points firmer at 1,571.01.

On the broader market, gainers outnumbered losers 279 to 223, while 340 counters were unchanged, 1,356 untraded and 15 others suspended. 

Total volume stood at 881.52 million units worth RM245.11 million.

Rakuten Trade Sdn Bhd said while the local bourse’s performance is expected to remain volatile today, the prevailing spate of good corporate results would serve as catalysts in the market.

“Hence, we expect the benchmark index to possibly range between 1,570 and 1,580 today,” it said in a note today.

Meanwhile, Malacca Securities Sdn Bhd expects the arrival of the second batch of the Pfizer-BioNTech vaccine today and the vaccine distribution to continue to attract buying interest in recovery-themed stocks, moving forward…

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From Malay Mail - 24/02/2021