Bursa opens higher ahead of Budget 2019 tabling

Bursa opens higher ahead of Budget 2019 tabling

KUALA LUMPUR,. Shares on Bursa Malaysia opened higher today, with an overwhelming sense of optimism among traders ahead of the tabling of the 2019 Budget this afternoon, and a positive external environment, specifically the better overnight performance of Wall Street.

At 9.11am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.55 points better at 1,711.47 from yesterday’s close of 1,706.92.

The index opened 4.06 points stronger at 1,710.98.

Public Bank Investment Bank Bhd said US markets ended the day higher again as investors reacted positively to President Donald Trump’s tone of offering “hope” in respect of progress in US-China trade relations.

“He said in a tweet that he had a ‘long and very good conversation’ with Chinese President Xi Jinping,” the research firm said in note today.

On Bursa Malaysia, gainers led losers 192 to 79 with 121 counters unchanged, 1,448 untraded and 18 others suspended.

Volume stood at 227.87 million units valued at RM81.63 million.

Among heavyweights, Maybank rose four sen to RM9.44, Tenaga improved 10 sen to RM14.66, Petronas Chemicals increased nine sen to RM9.45 and CIMB gained one sen to RM5.71.

Public Bank was flat at RM24.60.

For actives, PUC was up two sen to 13.5 sen, Seacera added 2.5 sen to 31.5 sen, while Datasonic and Prestariang bagged one sen each to 41 sen and 60.5 sen respectively.

Vivocom and Hubline were flat at 2.5 sen and 4.5 sen.

The FBM Emas Shariah Index increased 32.09 points to 11,798.94, the FBM Ace Index rose 33.60 points to 4,916.03 and the FBM 70 improved 19.71 points to 13,537.19.

The FBM Emas Index was 29.2 points higher at 11,795.13 and the FBMT 100 Index gained 27.75 points to 11,644.84.

Sector-wise, the Plantation Index bagged 1.77 points to 7,362.27, the Industrial Products and Services Index was 0.59 of-a-point better at 171.15 and the Financial Services Index was 28.48 points stronger at 17,230.92. — Bernama