Bursa opens higher, ignoring subdued other markets

Syndicated News
Written by Syndicated News

KUALA LUMPUR, Sept 7 2018 : Bursa Malaysia has extended its positive momentum since yesterday and opened 0.17 per cent higher this morning, ignoring subdued performances on Wall Street and regional markets.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.12 points better at 1,801.69 from yesterday’s close of 1,798.57.

The index opened 2.71 points higher at 1,801.28.

Market breadth was positive as advancers led losers 101 to 83, with 156 remaining unchanged, 1,544 untraded and 36 others suspended.

Volume stood at 96.31 million units valued at RM25.31 million.

Maybank Investment Bank in a  research note said investors should expect the market to be choppy today as subdued performances on Wall Street could trigger profit-taking activities.

“Investors may also turn risk-off ahead of the long weekend break,” an analyst said.

Monday is a public holiday in lieu of the King’s birthday on Sunday and Tuesday is also a holiday for Awal Muharam, the Islamic New Year.

Among gainers in the heavyweights, Tenaga added 10 sen to RM15.86, PChem gained five sen to RM9.47, Genting rose eight sen to RM8.22, PetGas perked 14 sen to RM18.74 and Maxis earned three sen to RM5.80.

Among actives, PWorth, BornOil and Sumatec were flat at five sen, 5.5 sen and three sen, while SapNRG added half-a-sen to 34 sen. 

The FBM Emas Index advanced 16.68 points to 12,577.31, the FBMT 100 Index went up 18.22 points to 12,392.85 and the FBM 70 gained 9.77 points to 14,927.47, the FBM Emas Shariah Index increased 13.47 points to 12,702.39 as the FBM Ace Index rose 3.63 points to 5,145.33.

Sector-wise, the Finance Index improved 24.35 points to 17,801.09, the Industrial Index advanced 6.55 points to 3,232.67 but the Plantation Index was down 3.86 points at 7,516.41. – Bernama




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