KUALA LUMPUR, Oct 17 — Bursa Malaysia opened firmer today, tracking the overnight Wall Street performance which ended sharply higher amid investors’ optimism at the start of...
On the broader market, gainers edged past decliners 142 to 104, while 223 counters were unchanged, 1,872 untraded and 10 suspended. ― Bernama picKUALA LUMPUR, Oct 17 — Bursa Malaysia opened firmer today, tracking the overnight Wall Street performance which ended sharply higher amid investors’ optimism at the start of earnings season, dealers said.
“Given the positive trading sentiment on Wall Street, we believe that buying interest may emerge on the local front, focusing on the details of Budget 2024 as well as the National Energy Transition Roadmap and New Industrial Master Plan 2030 blueprints,” it said.Regarding commodities, it said Brent crude oil maintained above the US$90 per barrel amid the ongoing geopolitical tensions, while crude palm oil headed higher towards RM3,800 per tonne ahead of the Deepavali festival.
“Meanwhile, Brent oil price maintaining above the US$90 mark may provide trading impetus for the energy stocks. We favour the solar-related as well as automotive sectors as electric vehicles and renewable energy were some of the key focuses in Budget 2024,” it pointed. Of the actives, newly-listed Minox rose eight sen to 33 sen and Widad improved one sen to 56 sen, while Sapura Energy, Tanco and Tanco warrants were flat at five sen, 25.5 sen and 57 sen, respectively.
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