Bursa Malaysia opens higher
KUALA LUMPUR: Bursa Malaysia rebounded to open higher this morning, taking the cue of the slightly better overnight performance on Wall Street, dealers said.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) traded at 1,858.41, up 6.48 points from Wednesday's close of 1,851.93.
The index opened 4.26 points higher at 1,856.19.
On the broader market, gainers led losers 125 to 51, while 96 counters were unchanged, 1,642 untraded and 88 others suspended.
Volume stood at 111.02 million units valued at RM32.23 million.
A dealer said Asian stocks were mostly lower at opening, taking the cue from the choppy overnight trading on Wall Street despite eking out small gains in positive territory.
"Investors are still concerns over rising US bond yields and their impact on inflation, while assessing and ongoing earnings season," he said.
TA securities said bearish technical momentum and caution over rising interest rates as US Treasury yields topped three per cent should continue to dampen sentiment in the immediate term.
"Immediate supports for the index is revised lower to 1,825 points, while overhead resistance will be at the 1,880 level," it said.
Among heavyweights, Maybank rose four sen to RM10.66, Public Bank bagged 12 sen to RM23.96, Tenaga added four sen to RM15.88, Petronas Chemicals gained three sen to RM8.42, while CIMB was flat at RM7.17.
For actives, SKH edged up one sen to 8.5 sen, Sapura Energy and UCREST gained 1.5 sen each at 68 sen and 30.5 sen, respectively, Maxwell International eased half-a-sen to 1.5 sen, while SMRT Holdings was flat at 15.5 sen.
The FBM Emas Index was 43.96 points higher at 12,902.14, the FBMT 100 Index rose 44.98 points to 12,720.82 and the FBM Emas Syariah Index added 40.71 points to 13,040.42.
The FBM 70 advanced 55.56 points to 15,126.34 and the FBM Ace improved 15.0 points for 5,267.69.
Sector-wise, the Industrial Index added 2.22 points to 3,208.61, the Plantation Index gained 22.56 points to 7,977.0 and the Finance Index increased 68.34 points to 18,243.80.
The physical price of gold as at 9.30am stood at RM161.12 per gramme, down three sen from RM161.15 at 5.00pm yesterday. — Bernama