Bursa Malaysia opened higher on Tuesday, supported by gains in energy-related counters as investors continued to monitor developments in the Strait of Hormuz and their impact on global oil prices.
At 9.16am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.03 points, or 0.12%, to 1,700.47 from Monday’s close of 1,698.44. The benchmark index traded between 1,698.21 and 1,701.05 in early dealings.
The broader market was mixed. The FBM Emas Index gained 9.81 points to 12,563.77, the FBM Top 100 Index added 11.47 points to 12,398.07, while the FBM 70 Index edged up 2.53 points to 17,828.89. In contrast, the FBM Small Cap Index slipped 18.78 points to 15,500.76.
Sectoral performance was also mixed, with the Energy Index inching up 0.26 point to 773.55, while the Consumer Products and Services Index rose 0.29 point to 500.25. The Construction Index eased 0.39 point to 280.33.
Trading sentiment remained cautious after Wall Street closed lower overnight as renewed US-Iran tensions fuelled concerns over higher energy prices and inflation. The Nasdaq led losses following a broad sell-off in technology and semiconductor shares, while energy stocks outperformed as crude oil prices surged after the United States reinstated a blockade on Iranian ports.
Among active stocks on Bursa Malaysia, Tanco Holdings rose two sen to 26 sen with 46.31 million shares traded, Velesto Energy fell two sen to 26.5 sen, VinVest Capital slipped one sen to two sen, Epicon advanced one sen to 17.5 sen, while TWL Holdings was unchanged at 2.5 sen.
On the broader market, Fraser & Neave led gainers, climbing 44 sen to RM29.38, followed by Petrochemicals Nasional (PetChem), which gained 25 sen to RM4.60. On the losing side, Malaysian Pacific Industries fell 60 sen to RM43.70, while Unisem declined 10 sen to RM4.42.
