Business

Bursa higher due to better Wall Street, expected budget goodies

Syndicated News
Written by Syndicated News

KUALA LUMPUR, Oct 11 2019 : Bursa Malaysia opened higher today, tracking the better overnight performance of Wall Street and the expected “goodies” from Budget 2020 to be tabled later today.

At 9.08 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) increased 1.42 points to 1,553.29 from yesterday’s 1,551.87.

The benchmark index opened 0.91 points weaker at 1,550.96.

On the broader market, gainers outpaced losers 166 to 59, while 1,331 counters were unchanged, 459 untraded and 52 others suspended.

Turnover amounted to 556.07 million shares worth RM314.63 million.

Public Investment Bank Bhd said US stocks closed higher yesterday as investors took an optimistic stance ahead of the resumption of high-level trade talks between the US and China in Washington.

“The S&P 500 finished 0.6 per cent higher, while the Nasdaq Composite and Dow Jones Industrial Average each also rose 0.6 per cent,” it said in a note.

Among heavyweights, Maybank rose three sen to RM8.42, PBBank improved four sen to RM19.22, CIMB increased one sen to RM4.87, while Tenaga declined four sen to RM13.62.

PChem and IHH were flat at RM7.18 and RM5.67, respectively.

Of the most actives, Sanichi, AirAsia X, Sime Darby, ARB Bhd and Parlo Bhd were flat at 29 sen, five sen, 16 sen, RM2.28, 31 sen and eight sen, respectively.

The FBM Emas Index rose 17.98 points to 11,038.64, the FBMT 100 Index increased 16.1 points to 10,857.99 and the FBM Emas Shariah Index improved 17.18 points to 11,658.93.

The FBM 70 appreciated 45.85 points to 13,844.28 but the FBM Ace added 6.17 points to 4,589.3.

Sector-wise, the Financial Services Index increased 26.27 points to 14,986.87, the Plantation Index rose 1.81 points to 6,544.86 while the Industrial Products & Services Index was 0.22 of-a-point weaker at 149.53. – Bernama

 

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