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Bursa marginally higher due to modest buying of heavyweights

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Syndicated News
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KUALA LUMPUR, Jan 8 2019 : Bursa Malaysia opened marginally higher following modest buying interest in heavyweights and in line with Wall Street’s better performance overnight, said a dealer.  

At 9.23 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.52 points to 1,682.69 from yesterday’s close of 1,679.17.  

The index opened 6.55 points higher at 1,685.72. 

JF Apex Research said the FBM KLCI is expected to extend its rebound towards the resistance of 1,710 points, following the positive performance on Wall Street.

“The US markets rose overnight amid volatile trading as the US-China trade negotiations begin. Meanwhile, the European stocks declined on concerns over global economic growth, Brexit and the US government shutdown,” it said in a note today.   

Bursa Malaysia’s market breadth was positive, as gainers led losers 201 to 131, while 223 counters were unchanged, 1,312 untraded and 22 others suspended.

Turnover was at 337.49 million shares worth RM147.52 million.  

Among heavyweights, Maybank gained two sen to RM9.48, Public Bank rose four sen to RM24.74, TNB and Petronas Chemicals added six sen each to RM14 and RM8.99 respectively, while CIMB and IHH Healthcare both went up by five sen to RM5.69 and RM5.61 respectively. 

Meanwhile, Maxis declined four sen to RM5.62 and Petronas Gas fell 34 sen to RM17.66. 

Of actives, Ace Market debutant Gagasan Nadi Cergas increased two sen to 32 sen, Sapura Energy was 1.5 sen higher at 30 sen, Lay Hong edged up half-a-sen to 42.5 sen while Bumi Armada, Hubline and AirAsia X all were flat at 15 sen, five sen and 30.5 sen respectively. 

The FBM Emas Index advanced 26.95 points to 11,526.17, the FBMT 100 Index improved 25.12 points to 11,425.47 and the FBM Emas Shariah Index expanded 17.28 points to 11,457.12. 

The FBM Ace Index added 3.75 points to 4,398.37, while the FBM 70 bagged 34.10 points to 13,202.25. 

Sector-wise, the Finance Index accelerated by 54.67 points to 17,414.23, the Plantation Index increased 9.10 points to 6,957.69 and the Industrial Products and Services Index gained 0.91 point to 165.32.  – Bernama

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