Bursa Malaysia opens firmer, tracking regional peers

KUALA LUMPUR: Bursa Malaysia opened firmer today, tracking the positive performance of regional markets.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ticked up 1.55 points to 1,572.66 from Thursday’s close of 1,571.11.

The key index opened 1.81 points better at 1,572.92.

Market breadth was positive as gainers trounced losers 110 to 84 with 182 counters unchanged, 1,622 untraded and 15 others suspended.

Turnover amounted to 108.86 million shares worth RM41.01 million.

Regionally, Singapore’s Straits Times Index rose 0.28% to 3,177.61, Japan’s Nikkei gained 0.15% to 22,785.57 and South Korea’s Kospi Index was 0.08% higher at 2,087.33.

According to Reuters, Asian shares were lifted by small gains in world markets as positive earnings offset economic growth concerns.

Even though the key index opened in the positive territory today, Malacca Securities Sdn Bhd said the underlying market strength of the FBM KLCI stocks were still one of indifference as the buying interest remained tepid.

“This is leaving the key index to drift and in the absence of fresh catalysts, we maintain our view that the FBM KLCI will stay sideways, with the key index remaining within the 1,564 and 1,576 levels for now,“ it said in a note today.

The stockbroking firm said support is at 1,558-level, while resistance is at the 1,580-level.

Among heavyweights, Public Bank added six sen to RM19.28, Petronas Chemicals increased two sen to RM7.47, while Maybank fell one sen to RM8.45, IHH trimmed two sen to RM5.63 and Tenaga was flat at RM13.86.

Of the actives, Green Packet warrant perked 1.5 sen to 34.5 sen, Velesto climbed one sen to 35.5 sen, Rohas strengthened 3.5 sen to 59 sen, while Sapura Energy was unchanged at 27 sen and NetX eased five sen to two sen.

Takaful was the top gainer, accumulating 45 sen to RM6.65, while top loser Vitrox lost 37 sen to RM7.70.

The FBM 70 retreated 25.79 points to 14,037.70, while the FBMT 100 Index advanced 3.52 points to 10,997.28 and the FBM Ace expanded 3.29 points to 4,861.41.

The FBM Emas Index garnered 4.81 points to 11,188.55 and the FBM Emas Shariah Index was 19.17 points higher at 11,830.81.

Sector-wise, the Financial Services Index grew 9.98 points to 15,180.04, the Industrial Products & Services Index was 0.05 point better at 153.29 and the Plantation Index elevated 26.27 points to 6,626.74.

The physical price of gold as at 9.30am stood at RM195.54 per gramme, up RM1.60 from RM193.94 at 5.00pm yesterday. — Bernama

source https://www.thesundaily.my/business/bursa-malaysia-opens-firmer-tracking-regional-peers-MN1528169