Business

Bursa higher on better buying interest, stronger Wall Street

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Syndicated News
Written by Syndicated News

KUALA LUMPUR, Jan 10 2019 : Bursa Malaysia opened higher today on renewed buying interest coupled with the stronger overnight performance of Wall Street.  

At 9.25 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was  8.30 points better at 1,676.13 from yesterday’s close of 1,667.83 after opening 9.55 points higher at 1,677.38.

US markets rose for a fourth straight day after minutes from the US Federal Reserve (Fed) meeting confirmed the chairman, Jerome Powell’s statement, about slower interest rate hikes.

“Despite lingering concerns that the partial US government shutdown would drag on, US stocks extended their winning streak, as unbridled optimism themes surrounding trade talks continued to boost markets, while a patient Fed provided a  perfect complimentary invigorator for risk sentiment,” said OANDA head of trading for Asia Pacific, Stephen Innes.  

Bursa Malaysia’s market breadth was positive, as gainers led losers 295 to 134, while 203 counters were unchanged, 1,232 untraded and 24 others suspended.

Turnover was at 626.35 million shares worth RM253.55 million.  

For the heavyweights, Maxis jumped 17 sen to RM5.63, TNB soared 14 sen to RM13.80, MISC expanded 15 sen to RM6.38, IHH Healthcare went up seven sen to RM5.67, while Axiata and Petronas Chemicals both appreciated six sen to RM3.99 and RM8.61 respectively. 

CIMB bagged three sen to RM5.68, Public Bank was flat at RM24.68 and Maybank eased one sen to RM9.46. 

Of actives, Bumi Armada rose one sen to 16.5 sen, Sapura Energy and Trive Property edged up half-a-sen each to 30.5 sen and 78.5 sen respectively, while Hibiscus Petroleum went up 2.5 sen to 98 sen and V.S Industry advanced 3.5 sen to 78.5 sen. 

The FBM Emas Index improved 59.28 points to 11,540.77, the FBMT 100 Index improved by 58.24 points to 11,425.4 and the FBM Emas Shariah Index expanded 107.44 points to 11,462.86. 

The FBM Ace Index was down 1.29 points to 4,470.64, while the FBM 70 bagged 75.11 points to 13,338.13. 

Sector-wise, the Finance Index slid 7.57 points to 17,362.19, the Plantation Index increased 48.29 points to 7,014.29 and the Industrial Products and Services Index edged up 0.7 of-a-point to 163.61. – 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.