KUALA LUMPUR (Feb 16): Bursa Malaysia opened higher in early trade on Friday, echoing global markets, following Wall Street’s positive performance overnight.

At 9.05 am, the FBM KLCI had advanced 3.09 points to 1,531.47, from Thursday’s close at 1,528.38.

The barometer index opened 2.30 points better at 1,530.68. 

On the broader market, gainers led losers 190 to 115, while 238 counters were unchanged, 1,757 untraded, and 11 others suspended.

Turnover amounted to 212.72 million units worth RM46.72 million.

Rakuten Trade head of research Kenny Yee said the KLCI ended on a flat note on Thursday on late buying activities, showing that the local bourse was well supported at current levels.

“As we enter the earnings season, it is without a doubt that the banking sector will continue to show a decent performance for 2023,” he said in a note on Friday.

Hence, Yee expects the index to hover within the 1,530 to 1,540 range for the day, amid improving participation from the retail segment as illustrated by the enhanced daily volume.

Heavyweight banking counters Malayan Banking Bhd (Maybank) added three sen to RM9.43 a share, Public Bank Bhd at RM4.40 and CIMB Group Holdings Bhd at RM6.37 had risen one sen, while Hong Leong Bank Bhd perked up two sen to RM19.40.

As for the actives, TWL Holdings Bhd was flat at 3.5 sen, Hong Seng Consolidated Bhd improved half a sen to 2.5 sen, Sarawak Cable Bhd inched up 1.5 sen to 25 sen, and Sarawak Consolidated Industries Bhd increased one sen to 42 sen, while Fitters Diversified Bhd at 4.5 sen and MAG Holdings Bhd at 20 sen were both flat.

On the index board, the FBM Emas Index was 23.10 points higher at 11,389.76, the FBMT 100 Index climbed 21.70 points to 11,039.92, the FBM 70 Index put on 27.76 points to 15,386.99, and the FBM Emas Shariah Index increased 14.98 points to 11,420.74, but the FBM ACE Index trimmed 6.75 points to 4,889.80. 

Sector-wise, the Financial Services Index jumped 44.21 points to 17,186.06, while the Industrial Products and Services Index stood at 175.04.  

The Property Index went up 3.80 points to 925.2, the Plantation Index added 8.87 points to 7,224.95, and the Energy Index edged up 4.71 points to 894.05.