KL shares open higher on positive regional market sentiment

KUALA LUMPUR: Share prices on Bursa Malaysia opened higher today propped up by positive regional market sentiment, dealers said.
At 9.16am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.43 points higher at 1,632.52 after opening 0.02 point higher at 1,631.11.
It closed 0.13 point higher at 1,631.09 on Thursday.
A dealer said Asian stocks rose on growing optimism of a correction in demand and supply of crude oil following problems in several producing countries.
He said wildfires in Canada's oil sands, unrest in the Nigerian and Libyan energy sectors and a near economic meltdown in Venezuela have reduced immediate production by nearly four million barrels per day, sparking a buying frenzy in crude futures.
Brent crude was down 0.1% to US$49.52 (RM201) a barrel after surging to as high as US$50.51 on Thursday.
On the scoreboard, the FBM Emas Index added 8.279 points to 11,407.81, the FBMT100 Index firmed 9.65 points to 11,103.62 but the FBM Emas Syariah Index decreased 13.76 points to 11,916.44.
The FBM 70 increased 10.86 points to 12,856.41 and the FBM Ace was 0.15 point higher at 5,475.8.
Sector-wise, the Finance Index jumped 31.04 points to 14,272.31 while the Industrial Index erased 6.12 points to 3,078.28 and the Plantation Index eased 14.8 points to 7,472.78.
Market breadth was mixed with 152 gainers and 155 losers while 196 counters were unchanged, 1,243 untraded and 58 others were suspended.
Turnover stood at 164 million shares worth RM99.61 million.
Among heavyweights, Maybank added three sen to RM8.40, while TNB and Public Bank gained four sen each to RM14.04 and RM19.18 respectively.
Of the actives, AirAsia garnered 16 sen to RM2.28 and AirAsia X earned half-a-sen to 39.5 sen while Compugates slipped half-a-sen to four sen.
The physical price of gold as at 9.30am stood at RM154.61 per gramme, down RM1.03 from RM155.64 at 5pm yesterday. — Bernama