Bursa Malaysia Open Higher Driven by Wall Street Performance & Fed Statement

<p>&nbsp;Today, Bursa Malaysia opened high tracking the positive performance of Wall Street throughout the overnight period and was also driven based on the statement by the US Federal Reserve (The Fed) on interest rates.</p><p><br /></p><p>This morning, the FTSE Bursa Malaysia (FBM KLCI) rose 1.30 points to 1,466.97 from 1,465.67 when it closed on Tuesday. The FBM KLCI opened 0.76 points higher at 1,466.43.</p><p><br /></p><p>Overall market sentiment was positive where gainers outnumbered losers by 142 to 121. Meanwhile, 272 counters were unchanged, 1,782 counters were untraded and 23 others were suspended. A total of 164.89 million units worth RM73.54 million.</p><p><br /></p><p>According to a statement by Rakuten Trade's Chief Researcher, Kenny Yee said that although recent uptrends have overtaken fundamentals, investors remain steadfast in their stances waiting for opportunities to reap more gains from equities.</p><p><br /></p><p><br /></p><p>He also said that the Dow Jones Industrial Average rose 252 points overnight and the Nasdaq added 98 points. But, the US treasury yield for 10 years shrank 3.931%. Domestically, the 1,465 level may be a difficult resistance level.</p><p><br /></p><p>He said, if that level cannot be crossed confidently in the near term, then the index is expected to track back below the 1,460 level.</p><p><br /></p><p>Based on weighted stock observations, Public Bank rose one sen to RM4.35, CIMB rose three sen to RM5.99, Petronas Chemicals rose four sen to RM7.13 and Maybank and Tenaga Nasional each fell one sen to RM8.97 and RM9. .99.</p><p><br /></p><p>As for active shares, Jati Tinggi rose 4.5 sen to 31.5 sen, Dagang NeXchange added one sen to 40.5 sen while AT Systematization and Tanco each increased half a sen to one sen and 59 sen.</p><p><br /></p><p>On the index board, the FBM Emas Index rose 8.22 points to 10,872.78, the FBMT 100 Index increased 9.08 points to 10,539.60, the FBM 70 Index increased 11.43 points to 14,545.45, the FBM Emas Syariah Index added 1.89 points to 10,986.58 and the FBM ACE Index jumped 22.96 points to 5,206 .09.</p>