Bursa higher, encouraged by bullish global outlook

Syndicated News
Written by Syndicated News

KUALA LUMPUR, Sept 6 2019 : Bursa Malaysia rebounded from yesterday’s losses to open higher today, driven by renewed buying interest as investors were encouraged by the bullish outlook on the global economic front, dealers said.

At 9.15 am, the FTSE Bursa Malaysia KLCI rose 5.32 points to 1,605.07 after opening 1.91 points higher at 1,601.66 compared with yesterday’s close of 1,599.75.

Maybank Investment Bank Research said rising optimism on a settlement to the US-China trade dispute and rosier economic data lifted US markets overnight which may potentially boost the ailing near term domestic sentiment.

“Technically, we expect the FBMKLCI to range between 1,590 and 1,620 points today. Downside supports are at 1,585 and 1,572 levels,” it said in a research note today.

Among heavyweights, Maybank increased one sen to RM8.74, Public Bank added four sen to RM20.28, TNB and IHH Healthcare improved six sen each to RM13.86 and RM5.82, respectively, but Petronas Chemicals slipped one sen to RM6.87.

Of the actives, Barakah Offshore and Vsolar were flat at three sen and 12.5 sen, respectively, GD Express went up 1.5 sen to 30 sen and Green Packet earned half-a-sen to 66.5 sen.

On the scoreboard, the FBM Emas Index increased 42.16 points to 11,289.43, the FBMT 100 Index was 41.30 points higher at 11,127.94 and the FBM Emas Shariah Index edged up 57.69 points to 11,825.54.

The FBM Ace went up 0.53 of-a-point to 4,449.24 and the FBM 70 advanced 69.37 points to 13,810.21.

Sector-wise, the Financial Services Index rose 28.73 points to 15,539.57, the Plantation Index was flat at 6,796.51 while the Industrial Products and Services earned 0.48 of-a-point to 148.30.

On the broader market, gainers thumped losers 203 to 60, with 181 counters unchanged, 1,504 untraded and 15 others suspended.

Turnover stood at 142.93 million units worth RM59.04 million. – Bernama



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Syndicated News

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