KL shares higher in early trade

KUALA LUMPUR: The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) opened higher this morning in tandem with the upbeat Friday's performance on Wall Street.
At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,778.36, up 1.41 points, from Friday's close of 1,776.95. The key index opened 0.42 of-a-point better at 1,777.37.
Market breadth was positive with gainers outpacing decliners 253 to 165, while 259 counters were unchanged, 1,101 untraded and 30 others were suspended.
Turnover stood at 329.27 million shares worth RM133.71 million.
Leading movers in the FBM KLCI component stocks in early trades were Hap Seng which improved 11 sen to RM9.31, and banking stocks; CIMB which garnered three sen to RM6.64, Hong Leong Bank which added 12 sen to RM14.80 and RHB Bank which rose five sen to RM5.24.
RHB Research Institute, in a note, said the FBM KLCI still pointing towards a continuation of the uptrend.
"Towards the upside, the near-term resistance is at 1,784 points, which was the high of May 16, followed by the 1,800-point psychological mark," it said.
On the scoreboard, the FBM Emas Index advanced 7.25 points to 12,689.51, the FBMT100 Index rose 7.12 points to 12,332.45 but the FBM Emas Syariah Index eased 0.31 of-a-point to 12,894.04.
The FBM 70 declined 1.22 points to 15,177.49 and the FBM Ace slipped 19.19 points to 6,333.29.
On a sectoral basis, the Finance Index bagged 34.70 points to 16,738.57, the Plantation Index trimmed 15.68 points to 7,940.30, while the Industrial Index shed 6.25 points to 3,294.33.
Among actives, Vivocom slipped 1.5 sen to 11.5 sen, XOX rose half-a-sen to 13.5 sen, Hubline was flat at six sen, DNEX declined half-a-sen to 60.5 sen while Sumatec added half-a-sen to six sen.
The physical price of gold as at 9.30am stood at RM170.29 per gramme, up RM2.47 from RM167.82 at 5pm last Friday. — Bernama