KUALA LUMPUR, July 22 — Bursa Malaysia has maintained its uptrend this morning, taking its cue from Wall Street’s ongoing rally following the strong United States (US) corporate earnings, said an analyst.

At 9.15am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.66 points to 1,454.98 from Thursday’s close of 1,450.32.

The benchmark index opened 0.77 points higher at 1,451.09.

On the broader market, gainers surpassed losers 172 to 123, while 206 counters were unchanged, 1,795 untraded and eight others suspended.

Turnover stood at 145.83 million units worth RM57.16 million.

In a research note today, Malacca Securities Sdn Bhd said the Wall Street’s uptrend overnight signals that buying support on the local bourse will remain intact.

"The technology sector should be gaining momentum following the Nasdaq’s extended rebound.

"Besides, investors may favour the automotive stocks after the Malaysian Automotive Association (MAA) raised its Malaysian automotive total industry volume forecast," it said.

On the other hand, the brokerage said investors might see some profit-taking activities in the energy sector on declining crude oil prices.

It said crude oil price had slipped but is still trading above the US$103 per barrel mark after Libya increased its output after restrictions on exports were lifted.

Among the Bursa heavyweights, Maybank rose five sen to RM8.75, Public Bank gained three sen to RM4.47, IHH Healthcare and CIMB Group increased two sen each to RM6.49 and RM6.49, respectively, while Petronas Chemicals fell eight sen to RM8.64.

Of the actives, Cypark Resources declined one sen to RM34.5 and Bintai Kinden Corporation was half-a-sen lower at 4.5 sen, while Sarawak Consolidated Industries and ATA IMS added one sen each to 17 sen and 31 sen, repectively, and Widad Group inched up half-a-sen to 38.5 sen.

On the index board, the FBM Emas Index rose 28.01 points to 10,329.92, the FBM Emas Shariah Index increased 12.1532 points to 10,421.90, the FBM 70 was 54.75 points higher at 12,438.84, the FBMT 100 Index climbed 27.31 points to 10,086.41 and the FBM ACE improved 13.01 points to 4,756.10.

Sector-wise, the Plantation Index narrowed 11.22 points to 6,887.31, the Energy Index was 0.61 of-a-point lower at 636.23, the Industrial Products and Services Index eased 0.45 of-a-point to 176.53, while the Financial Services Index gained 70.15 points to 16,286.57. — Bernama