Business

Bursa higher after four-year low

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Syndicated News
Written by Syndicated News

KUALA LUMPUR, Oct 7 2019 : Bursa Malaysia opened higher today, recalibrating after going through a four-year low last Friday, following a better performance on Wall Street.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.53 of-a-point to 1,558.2 from 1,557.67 last Friday. 

The benchmark index opened 0.12 of-a-point better at 1,557.79.

On the broader market, gainers outpaced losers 136 to 57, while 180 counters were unchanged, 1,621 untraded and 33 others suspended.

Turnover amounted to 135.9 million shares worth RM47.22 million.

Public Investment Bank Bhd said last Friday’s rally had handed the S&P 500 its biggest one-day gain in nearly two months as the latest US jobs figures helped allay concerns about a domestic and global slowdown that have been brewing for most of the week.

“The S&P 500 finished 1.4 per cent higher on Friday in a broad-based rally that lifted all sectors. It was the benchmark’s largest one-day rise since mid-August,” it said in a note.

Meanwhile, the Nasdaq Composite and Dow Jones Industrial Average each closed 1.4 per cent higher, it said.

Among heavyweights, Maybank rose three sen to RM8.47, PBBank, PChem, IHH were flat at RM19.28, RM7.31 and RM5.65 respectively.

Meanwhile, Tenaga was two sen lower at RM13.50. 

Of the most actives, SDS Group rose three sen to 26 sen, Icon Offshore, Sapura Energy and I-Stone gained half-a-sen each to five sen, 26.5 sen and 19 sen respectively, while Bumi Armada was flat at 33.5 sen.

The FBM Emas Index increased 6.49 points to 11,055.01, the FBMT 100 Index rose 5.07 points to 10,879.4 and the FBM Emas Shariah Index improved 4.18 points to 11,650.8.

The FBM 70 appreciated 12.02 to 13,818.5 and the FBM Ace added 15.00 points to 4,524.29.

Sector-wise, the Financial Services Index gained 28.75 points to 15,026.14, the Plantation Index edged up 0.65 of-a-point to 6,568.63 but the Industrial Products & Services Index was 0.01 of-a-point weaker at 151.25. – Bernama

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News sourced from Bernama, Reuters, AFP and other accredited news agencies, including credible blogsites and news portals.