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Bursa rebounds, taking cue from Wall Street, rising crude oil prices

bursa malaysia

Syndicated News
Written by Syndicated News

KUALA LUMPUR, Aug 7 2018 : Bursa Malaysia rebounded from yesterday’s losses to open higher today, taking cue from the overnight performance of Wall Street and amid rising crude oil prices.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.95 points firmer at 1,784.70 from yesterday’s close of 1,779.75.

The index opened 4.59 points firmer at 1,784.34.

On the broader market, gainers led losers 142 to 80 with 143 unchanged, 1,516 untraded and 19 others suspended.

Volume stood at 93.42 million units valued at RM34.78 million.

In a note today, Maybank Investment Bank Bhd (Maybank IB) said as US markets overnight shrugged off early weakness, the positive sentiment spilled over to the local bourse. 

“Nevertheless, trading could remain choppy on trade tensions. Technically, the FBM KLCI is expected to trade between 1,770 and 1,790-points today. Downside supports are 1,748 and 1,710-points,” it added

Of the heavyweights, Public Bank gained two sen to RM24.28, Petronas Chemicals bagged three sen to RM9.04, CIMB edged up one sen to RM5.81, while Tenaga fell two sen to RM15.42 and Maybank was flat at RM9.87.

Among actives, Ucrest increased 1.5 sen to 41.5 sen, Advance and Cuscapi perked one sen each to 17 sen and 31 sen respectively, while Sino Hua-an and Key Asic ticked up half-a-sen each to 29.5 sen and 22 sen.

Of the top gainers, BAT improved 40 sen to RM34.18, Petronas Gas increased 38 sen to RM19, KLK was 14 sen better at RM24.66, Hong Leong Financial advanced 12 sen to RM18 and PMB Technology went up 10 sen to RM3.35. 

The FBM Emas Index was 30.08 points higher at 12,615.38 and the FBMT 100 Index rose 30.33 points to 12,401.75.

The FBM Emas Shariah Index climbed 37.18 points to 12,745.87, the FBM 70 bagged 22.39 points to 15,413.01 and the FBM Ace Index inched up 4.79 points to 5,403.12.

Sector-wise, the Plantation Index added 22.41 points to 7,649.41,  the Finance Index improved 25.62 points to 17,494.72 and the Industrial Index was up 32.40 points at 3,295.47. – Bernama

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