Kuala lumpur: Bursa Malaysia opened higher on Tuesday, extending the previous day's gains on continued local institutional buying and stock accumulation, a dealer said. At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 1.31 points to 1,586.90 from Monday's close of 1,585.59. The index opened 1.39 points firmer at 1,586.98. Market breadth was positive, with 146 gainers outpacing 88 decliners, while 65.82 million shares worth RM40.74 million were traded.
According to BERNAMA News Agency, Rakuten Trade Sdn Bhd, vice-president of equity research, Thong Pak Leng, noted that buying support from local institutions remains apparent, underscoring that the local bourse is rather well supported. Thong expressed confidence that stock accumulation would continue as the final quarter of 2025 approaches with a stable corporate environment.
Thong added that the index is anticipated to trend within the 1,585-1,600 range for the day. He also mentioned that gold prices have surged to another record high, indicating a potential outflow of funds from US dollar-denominated assets.
Among the heavyweights, Maybank rose four sen to RM10.04, Public Bank gained one sen to RM4.29, while Tenaga Nasional, IHH Healthcare, and Press Metal remained unchanged at RM13.32, RM6.92, and RM5.55, respectively. CIMB slipped three sen to RM7.24.
In active trade, Pharmaniaga added half a sen to 20 sen, MRCB rose two sen to 49 sen, and Scientex-WA improved half a sen to 8.5 sen, while Dagang Nexchange was flat at 24 sen. Top gainers included Nestle, which climbed 60 sen to RM94.60, Hong Leong Bank, up 18 sen to RM20.26, Paragon Union, which advanced 12 sen to RM2.88, and Teck Guan and Country View, both eight sen higher at RM2.00 and RM2.23, respectively.
On the broader market, the FBM Emas Index added 14.76 points to 11,776.78, the FBMT 100 Index gained 10.67 points to 11,537.91, and the FBM Emas Shariah Index rose 7.70 points to 11,743.25. The FBM 70 Index climbed 20.30 points to 16,467.75, while the FBM ACE Index was 4.77 points higher at 4,764.19.
By sector, the Industrial Products and Services Index edged up 0.23 of a point to 164.98, the Plantation Index advanced 18.67 points to 7,655.03, and the Financial Services Index added 41.47 points to 18,167.53. The Energy Index eased 2.19 points to 738.13.