KUALA LUMPUR: Bursa Malaysia opened with renewed enthusiasm after the Chinese New Year break as fears over the disruptive impact of AI on the tech sector dissipated and investors looked ahead to earnings results scheduled over the remainder of the month.
The FBM KLCI rose 6.82 points to 1,748.08 at the starting bell, on the heels of Wall Street's positive performance following the release of Federal Reserve minutes that showed the committee was split on the interest rate.
"The minutes indicated policymakers remain divided on the rate outlook, with scope for further cuts if inflation eases but overall caution persisting amid lingering inflation uncertainty," said Apex Research in its review.
The research firm addd that technology stocks have stabilised following recent volatility, although investors remain watchful over the longer-term earnings impact of AI investments, while uncertainty surrounding US tariff cost burdens continues to cloud the policy outlook.
"Against this backdrop, the FBM KLCI is expected to trade range-bound around the 1,735–1,750 level, with investors likely to focus on assessing upcoming local corporate earnings, while persistent global uncertainties may cap near-term upside."
On the blue-chip index, bank stocks were once again on the rise with Ambank gaining five sen to RM6.40, CIMB adding seven sen to RM8.45, Maybank climbing four sen to RM11.98, Hong Leong Bank rising 14 sen to RM24.10 and RHB putting on six sen to RM8.14.
IHH Healthcare rose 10 sne to RM8.92 while PPB jumped 12 sen to RM11.16.
The broader market rally saw the likes of IOI Properties
adding 11 sne to RM2.62, Sime Darby rising seven sen to RM2.41 and MPI gaining 34 sen to RM30.32.
Top actives included TWL unchanged at 2.5 sen, Zetrix AI rising four sen to 89 sen and Capital A putting on 1.5 sen to 61 sen.
