Bursa opens higher ahead of Budget 2027 announcement

Bursa Malaysia's main index, the KLCI, opened 1.14 points higher at 1,602.15 on Friday, as investors looked towards the upcoming 2027 budget announcement. The index had previously closed at 1,601.01 on Thursday. In the broader market, there were more losers than gainers, with 233 stocks falling and 216 rising, while 284 remained unchanged.

Turnover was at 326.93 million units, valued at RM155.22 million. Analysts noted that the FBM KLCI was below key moving averages, with momentum indicators suggesting easing selling pressure. Key resistance was expected around 1,616-1,631, while near-term support was around 1,571-1,586. Retail giant Malacca Speed Mart could potentially benefit from increased SARA and STR allocations under the 2027 budget, boosting spending at value retailers.

Analysts saw the current FBM KLCI level as an opportunity to buy local blue chips, anticipating a rebound in the index. Among the top gainers, Mi Technovation rose 56 sen to RM6.64, BLD Plantation increased 12 sen to RM14.98, Hong Leong Industries gained 12 sen to RM16.20, Samaiden climbed 9 sen to RM3.10, and Solarvest rose 8 sen to RM4.24.

The top losers included Negri Sembilan Oil Palms, which fell 42 sen to RM5.03, Malaysian Pacific Industries declined 18 sen to RM43.32, and FCW dropped 11 sen to RM1.70. The FBM Mid 70 Index rose 12.37 points to 17,549.44, while the Financial Services Index fell 30.91 points to 18,347.54. Trading in MKH Bhd securities was suspended as per Market Listing Requirements.