Business

Bursa higher on firmer Wall Street

bursa malaysia

Syndicated News
Written by Syndicated News

KUALA LUMPUR, Aug 29 2019 : Bursa Malaysia rebounded at opening today lifted by a firmer Wall Street in overnight trade.

At 9.08 am, the FTSE Bursa Malaysia KLCI increased 2.8 points to 1,592.62 after opening 3.54 points higher at 1,593.63 compared with yesterday’s close of 1,589.82.

A dealer said US stock markets rebounded with the Dow Jones, S&P 500 and Nasdaq gaining one per cent, 0.7 per cent and 0.4 per cent respectively as bargain hunting activities took precedence.

“We think that a downside is likely to find support around the 1,580-1,590 levels in the near term but with few positives, we also think that any recovery could be measured with 1,600 points the likely resistance target and further gains likely to be difficult to come by over the foreseeable future,” he said.

Among heavyweights, Maybank added one sen to RM8.54, Public Bank and TNB perked six sen each to RM20.38 and RM13.80 respectively and IHH gained four sen to RM5.79.

Petronas Chemicals lost one sen to RM6.89.

For actives, SMTrack inched up half-a-sen to 23 sen and Opcom and KNM added 1.5 sen each to 65 sen and 39.5 sen respectively.

Berjaya and Sumatec slipped half-a-sen each to 25.5 sen and 2.5 sen respectively.

On the scoreboard, the FBM Emas Index increased 7.86 points to 11,221.33, the FBMT 100 Index was 7.92 points higher at 11,058.27 and the FBM Emas Shariah Index edged up 3.44 points to 11,771.23.

The FBM Ace went up 7.93 points to 4,546.2 but the FBM 70 fell 37.98 points to 13,792.93.

Sector-wise, the Financial Services Index rose 39.73 points to 15,392.54, the Plantation Index climbed 7.29 points to 6,765.18 and the Industrial Products and Services Index was 0.07 point higher at 147.43.

On the broader market, gainers edged losers 145 to 105, with 172 counters unchanged, 1,554 untraded and 64 others suspended.

Turnover stood at 157.91 million units worth RM62.12 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.