Bursa higher, echoing better Wall Street performance

Syndicated News
Written by Syndicated News

KUALA LUMPUR, July 12 2019 : Shares on Bursa Malaysia opened higher today, echoing the better overnight performance on Wall Street.

At 9.06am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.81 points to 1,681.07 from yesterday’s close of 1,679.26.

At the opening, the index went up 1.77 points to 1,681.03.

Market breadth was positive with 179 gainers outpacing 75 decliners, while 191 counters unchanged, 1,403 untraded and 19 others suspended.

Turnover stood at 164.53 million units worth RM70.81 million.  

Public Investment Bank Bhd in a note said, investors in US stock market rotated out of stocks in the utilities and real estate sectors, which are typically seen as defensive in nature, in favour of more cyclical sectors like information technology and financials.

The S&P 500 index ended 0.2 per cent higher while the Dow Jones Industrial Average nudged 0.9 per cent higher.

Among heavyweights, Maybank and Public Bank improved two sen to RM8.97 and RM23.02, respectively, while Tenaga, Petronas Chemicals and IHH Healthcare were flat at RM13.72, RM8.40 and RM5.81.

Of the actives, Cuscapi and My E.G improved four sen each to 22.5 sen and RM1.53, respectively, while Sapura Energy, UCrest and Greenyield added one sen each to 30.5 sen, 24 sen and 15 sen, respectively.

The FBM Emas Index rose 17.93 points to 11,910.82 and the FBMT 100 Index increased 16.4 points to 11,735.81. 

The FBM Emas Shariah Index was 24.39 points better at 12,304.16, the FBM 70 advanced 36.1 points to 14,901.4 and the FBM Ace increased 13.02 points to 4,680.07.

Sector-wise, the Financial Services Index perked 15.87 points to 16,779.55, the Plantation Index added 1.83 points to 6,941.51, and the Industrial Products & Services Index increased 0.24 of-a-point to 161.68. – Bernama




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