Kuala lumpur: Bursa Malaysia opened higher on Thursday, with the benchmark index breaching the 1,530 level after three days of choppy trading, supported by optimism over US-China trade talks and improved domestic sentiment following recent policy announcements. At 9.06 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.48 points to 1,531.27, from Wednesday's close of 1,529.79. The index opened 1.26 points firmer at 1,531.05. Turnover totalled 174.73 million shares worth RM85.33 million.
According to BERNAMA News Agency, Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng noted that the FBM KLCI closed near the 1,530 level on Wednesday, supported by Prime Minister Anwar Ibrahim's announcements for all Malaysians. Thong mentioned the momentum could be linked to easing the Sales and Services Tax burden, though its sustainability is yet to be observed. He projected the index to trade within the 1,530-1,540 range for the day.
Thong also highlighted that Wall Street ended higher with growing confidence in the latest trade discussions. The US 10-year Treasury yield showed a decline to 4.384 per cent. In Hong Kong, the Hang Seng Index hit a three-and-a-half-year high, driven by positive sentiment from US-China trade talk progress and the recently concluded US-Japan agreement.
Among heavyweight counters, Maybank, 99 SpeedMart, and SD Guthrie each increased by three sen to RM9.62, RM2.37, and RM4.78, respectively. PPB rose 17 sen to RM9.47, while Petronas Chemicals gained two sen to RM3.39. Top gainers included Nestle, which increased by 60 sen to RM77.50, and United Plantations, which added 20 sen to RM22.00.
Active counters saw NexG and TWL remaining unchanged at 52 sen and 2.5 sen, respectively. Sunzen Warrant added half a sen to 10 sen, and TT Vision advanced by 3.5 sen to 60 sen. SFP Technologies and Notion Vtec each gained one sen to 20.5 sen and 60.5 sen, respectively.
On the broader index board, the FBM Emas Index rose 13.47 points to 11,508.02, the FBMT 100 Index gained 11.75 points to 11,265.91, and the FBM Emas Shariah Index advanced 11.34 points to 11,527.82. The FBM 70 Index was up 21.17 points at 16,665.26, while the FBM ACE Index added 2.25 points to 4,667.30. By sector, the Financial Services Index increased 27.47 points to 17,457.72, the Energy Index dipped 0.92 of a point to 742.26, the Plantation Index rose 16.49 points to 7,427.93, and the Industrial Products and Services Index edged up 0.04 of a point to 155.47.