Business

Bursa higher, echoing improved Wall Street

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Syndicated News
Written by Syndicated News

KUALA LUMPUR, Oct 31 2018 : Shares on Bursa Malaysia opened higher today, translated into buying in selected heavyweights, and echoing the better overnight performance of Wall Street.

At 9.04 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 7.25 points better at 1,693.19 from yesterday’s close of 1,683.73.

The index opened 5.45 points stronger at 1,691.39.

Public Bank Investment Bank Bhd said US markets ended the overnight session on a firmer note, in stark contrast to Monday’s shaky start.

“The Dow Jones Industrial Average jumped 431.7 points (+1.8 per cent) yesterday, driven by gains in Goldman Sachs, McDonalds and Boeing which outperformed the broader index. Communications, materials and energy stocks drove the S&P 500 1.6 per cent higher, while the Nasdaq Composite also gained 1.6 per cent,” it said in a note today.

On Bursa Malaysia, gainers led losers 179 to 33 with 104 counters unchanged, 1,580 untraded and 87 others suspended.

Volume stood at 96.26 million units valued at RM41.8 million.

Among heavyweights, Maybank rose seven sen to RM9.41, Public Bank was up 10 sen to RM24.64, Tenaga improved 16 sen to RM14.46, while Hong Leong Bank and IHH Healthcare were flat at RM20.66 and RM4.99 respectively.

For actives, Seacera and Orion IXL gained one sen each to 22 sen and 11.5 sen, while Sapura Energy bagged half-a-sen to 32.5 sen, Prestariang was up two sen to 51.5 sen and Hibiscus Petroleum fell one sen to RM1.01 sen. 

The FBM Emas Shariah Index increased 50.77 points to 11,603.5, the FBM Ace Index rose 64.09 points to 4,776.42 and the FBM 70 improved 69.21 points at 13,232.15.

The FBM Emas Index was 52.36 points higher at 11,626.99 and the FBMT 100 Index gained 51.69 points to 11,488.77.

Sector-wise, the Plantation Index added 4.21 points to 7,296.01, the Financial Services Index was 58.24 points better at 17,099.33, and the Industrial Products and Services Index was 0.39 of-a-point better at 168.81. – Bernama

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