Bursa Malaysia opens slightly higher

KUALA LUMPUR: Bursa Malaysia opened slightly higher today on buying interest and in tracking overnight gains on Wall Street following upbeat US earnings data.

At 9.17am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.48-of-a-point stronger at 1,678.24, against yesterday's close of 1,677.76.

The index opened 0.32 of-a-point easier at 1,677.44.

However, market breadth was positive as gainers led losers 134 to 120, while 194 counters were unchanged, 1,231 untraded and 20 others suspended.

Turnover stood at 118.62 million shares worth RM51.96 million.

A dealer said US markets were firmer last night after the release of corporate earnings which pointed to resilience in the global economy.

The Dow Jones Industrial finished Monday up 0.46%, while the S&P 500 gained 0.47% and the Nasdaq 0.91%.

Kenanga Research in a note said if the FBM KLCI swiftly takes out its immediate 1,680 resistance, it could set a sight on 1,700 and further up.

"However, an unsuccessful attempt to clear the 1,680 hurdle could see the local bourse retracing towards 1,672, throughout the day," it said.

Of the heavyweights, TNB, TM and Public Bank went down two sen each to RM14.32, RM 6.56 and RM19.80 respectively, Maybank added three sen to RM7.76 and Petronas Chemicals was flat at RM6.98.

Of the gainer counters, Hong Leong Industries and KL Kepong improved 10 sen each to RM15.70 and RM24.38 respectively, Alliance Group rose six sen to RM3.92 and Gadang Holdings gained five sen to RM3.36.

The FBM Emas Index was up 2.45 points to 11,848.44, the FBM Emas Syariah Index lost 1.74 points to 12,474.04, and the FBMT 100 Index was 3.00 points higher at 11,547.02.

The FBM 70 rose 2.45 points to 13,853.26 as the FBM Ace increased 1.81 points to 5,136.13.

The Plantation Index improved 8.53 points to 7,955.37, the Industrial Index declined 0.93 of a point to 3,163.38 and the Finance Index bagged 3.27 points to 14,488.58.
The physical price of gold as at 9.30am stood at RM164.28 per gramme, up nine sen from RM164.19 at 5pm yesterday. — Bernama