KUALA LUMPUR, March 23 — Bursa Malaysia opened higher on Wednesday, boosted by positive market sentiment as investors follow the global equity markets.

At 9.09am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) earned 8.38 points to 1,594.19 from 1,585.81 at Tuesday’s close.

The barometer index opened 2.97 points better at 1,588.78.

On the broader market, gainers were ahead of losers at 279 to 103, while 213 counters were unchanged, 1,708 untraded and 13 others suspended.

Total turnover stood at 278.91 million worth RM141.4 million.

Public Investment Bank Bhd said the local bourse would take cues from Wall Street stocks, which increased on Tuesday, and US government bond prices, which fell, as investors anticipate tighter monetary policy from the US Federal Reserve.

Regionally, the equity markets were on positive trajectory, with Japan’s Nikkei rising 1.90 per cent to 27,741.98, Hong Kong’s Hang Seng advancing 3.15 per cent to 21,889.28, Korea’s Kospi adding 0.9 per cent to 2,734.35, while Singapore’s Strait Times Index bucking the trend, erasing 0.16 per cent to 3,350.17.

Rakuten Trade Sdn Bhd Equity Research vice-president Thong Pak Leng said because of yesterday’s volatile trading, the main index was predicted to move around the 1,580-1,595 range today.

Among the heavyweights, Maybank and IHH rose five sen each to RM8.88 and RM6.56, and PBBank, PChem and CIMB added four sen to RM4.66, RM9.62 and RM5.34, respectively.

Of the actives, CSH added two sen at 18 sen, TWL gained half-a-sen at six sen, ATAIms perked up three sen to 43 sen and AT was flat at two sen.

On the index board, FBM 70 increased 85.65 points to 13,622.74 and FBM ACE gained 66.68 points to 5,502.09.

FBM Emas Index was 57.0 points higher at 11,359.28, FBM Emas Shariah Index ticked up 49.84 points to 11,964.0, and FBMT 100 Index rose 60.77 points to 11,059.1.

Sector-wise, the Industrial Products and Services Index accumulated 1.36 points to 203.17, the Plantation Index reduced 17.54 points to 8,035.79, and the Financial Services Index leaped 116.62 points to 16,702.60. — Bernama