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Bursa opens higher, supported by buying interest led by finance-linked stocks

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Syndicated News
Written by Syndicated News

KUALA LUMPUR, Aug 17 2018 :Bursa Malaysia opened higher today, supported by buying interest in most heavyweights and lower liners led by finance-linked stocks, dealers said. 

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.91 points higher at 1,781.18 from yesterday’s close of 1,777.27.

The index opened 3.37 points firmer at 1,780.64.

On the broader market, gainers led losers 245 to 44 with 164 unchanged, 1,428 untraded and 32 others suspended.

Volume stood at 123.16 million units valued at RM51.44 million.

Public Investment Bank Bhd in a research note today said the higher index was tracking the higher US and European stocks overnight.

This came after global risk appetite showed a solid improvement as hopes of an easing of US-China trade tensions and a recovery for the Turkish lira helped calm concerns over the outlook for emerging markets. 

Meanwhile, Kenanga Investment Bank Bhd said that should the market sentiment continue to improve, resistance could be identified at the 1,800 level and possibly 1,830. 

Among the heavyweights, Maybank added one sen to RM9.80, Public Bank and CIMB each rose two sen to RM24.50 and RM5.90 respectively, Tenaga increased four sen to RM15.78, while Petronas Chemicals was flat RM9.24. 

Of actives, KAB bagged four sen to 29.5 sen, Borneo Oil was flat at six sen while Pesona gained 1.5 sen to 30.5 sen.

 The FBM Emas Index rose 32.71 points to 12,611.44, the FBMT100 Index gained 30.07 points to 12,378.09 and the FBM 70 improved 48.19 points to 15,386.66.

The FBM Emas Shariah Index increased 33.44 points to 12,768.29 and the FBM Ace was 29.57 points higher at 5,552.61.

Sector-wise, the Finance Index advanced 25.11 points to 17,414.33, the Plantation Index was up 3.21 points at 7,574.85 but the Industrial Index reduced 9.77 points to 3,214.48. – Bernama

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