KUALA LUMPUR (April 13): Bursa Malaysia rebounded to open higher in the early trading session on Wednesday (April 13), buoyed by renewed buying interest.

At 9.05am, the benchmark FBM KLCI was 4.41 points higher at 1,601.54, compared with Tuesday’s close at 1,597.13.

The barometer index opened 2.49 points firmer at 1,599.62.

On the broader market, gainers surpassed losers at 207 versus 103, while 222 counters were unchanged, 1,721 untraded and 12 others suspended.

Total turnover stood at 199.14 million worth RM70.68 million.

In a note, Malacca Securities Sdn Bhd said it expects volatility to persist, given the higher-than-expected US Consumer Price Index data, adding that investors may focus on the accelerated inflation rate, which may trigger a more hawkish tone from the US Federal Reserve regarding its monetary policy.

On commodities, it said oil benchmark Brent crude was trading around US$105 (about RM444.10) per barrel, while crude palm oil futures (FCPO) hovered above RM6,100 — both firmer on the back of easing Covid-19 restrictions in China.

“We expect to see buying interest continuing to revolve around the plantation and oil and gas sectors amid firmer Brent crude oil and FCPO prices.

“Meanwhile, the construction and building material sectors are gaining traction as investors are putting government-related counters on the radar amid speculation about an early election,” it said.

Among the heavyweights, both Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd rose two sen to RM8.84 and RM5.35 respectively, Public Bank Bhd added one sen to RM4.68 and IHH Healthcare Bhd gained seven sen to RM6.43, while Petronas Chemicals Group Bhd was flat at RM10.26.

Of the actives, ATA IMS Bhd and Vortex Consolidated Bhd inched up 1.5 sen each to 54.4 sen and 21 sen respectively, while CSH Alliance Bhd, Techna-X Bhd and China Ouhua Winery Holdings Ltd bagged half a sen each to 14.5 sen, 10 sen and 8.5 sen respectively.

On the index board, the FBMT 100 Index recovered 39.26 points to 11,135.79, the FBM Emas Index was 40.98 points firmer at 11,484.65 and the FBM Emas Shariah Index added 51.01 points to 12,107.71, FBM 70 strengthened 83.84 points to 13,822.14 and FBM ACE ticked up 31.58 points to 5,836.69.

Sector-wise, the Industrial Products and Services Index improved 0.50 of a point to 213.52, the Financial Services Index jumped 34.71 points to 16,753.69 and the Plantation Index rose 27.53 points to 8,502.87.