Bursa Malaysia opens fractionally higher

Bursa Malaysia opens fractionally higher

KUALA LUMPUR,. Bursa Malaysia opened fractionally higher this morning on mild bargain hunting after a recent sell-off, while also tracking a stronger overnight US equity market, dealers said.

At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) increased 1.13 points to 1,585.04 from 1,583.91 on Monday.

The index opened 1.03 points higher at 1,584.94.

On the broader market, gainers marginally surpassed losers 108 to 90, while 170 counters were unchanged, 1,589 untraded and 18 others suspended.

Turnover amounted to 94.89 million shares worth RM29.42 million.

Malacca Securities Sdn Bhd said despite Wall Street’s better overnight performance, the broader market environment on Bursa Malaysia remained cautious as most market players are unsure of its next course hampered by the lack of developments in the Malaysian equity market.

“As a consequence, the indifferent trend looks to persist for now as the market interest also continues to stay on the low side.

“On the FBM KLCI, we expect it to continue lingering within the 1,580 and 1,590 levels over the near term. Apart from the above levels, the other support and resistance levels are at 1,572 and 1,600 respectively,” it said in a research note today.

Among heavyweights, Maybank improved six sen to RM8.57, PBBank eased two sen to RM20.06, Tenaga fell four sen to RM13.60, PChem dropped three sen to RM7.51 while IHH added one sen to RM5.69.

Of the most actives, Sapura Energy and Borneo Oil each lost half-a-sen to 27.5 sen and 4.5 sen respectively while Seacera rose one sen to 25.5 sen.

The FBM Emas Index recovered 5.62 points to 11,209.33, the FBMT 100 Index gained 5.87 points to 11,043.70 but the FBM Emas Shariah Index slid 0.93 of-a-point to 11,767.49.

The FBM 70 depreciated 0.71 of-a-point to 13,932.36 but the FBM Ace rose 7.31 points to 4,502.43.

Sector-wise, the Financial Services Index increased 29.23 points to 15,338.95, the Plantation Index perked 15.36 points to 6,735.88 but the Industrial Products & Services Index was 0.24 of-a-point weaker at 153.04. — Bernama

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