Bursa Malaysia extends gains in early trade

14 Jan 2019 / 10:30 H.

KUALA LUMPUR: Bursa Malaysia extended the positive momentum from last week to open higher today, spurred by buying sentiment, with interest noted in penny stocks and selected heavyweights.

At 9.07 am, the key FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.36 of a point better at 1,683.58 from Friday’s close of 1,683.22 and despite a lower opening of 1,683.05.

A dealer said sentiment in the market was buoyed by signs of progress in US-China trade talks, coupled with better oil prices, as the benchmark Brent crude rose 0.36% to US$60.70 (RM246) per barrel at the time of writing.

AllianceDBS Research anticipated the FBM KLCI to likely trade above the 1,684.99 level today.

Overall market breadth was positive, as gainers led losers 157 to 91, with 173 counters unchanged, 1,441 untraded and 23 others suspended.

Turnover amounted to 158.39 million shares worth RM38.86 million.

For heavyweights, Tenaga gained two sen to RM13.88 and CIMB rose one sen to RM5.66, but Petronas Chemicals eased four sen to RM8.66.

Maybank, Public Bank, and IHH Healthcare were flat at RM9.45, RM24.76 and RM5.73 respectively.

Of actives, RGB perked one sen to 21.5 sen, while Hubline and KNM were flat at 5.5 sen and 8.5 sen.

Perisai, whose shares will be suspended from trading effective Jan 22 following the rejection of its proposed regularisation plan by Bursa Malaysia Securities Bhd, trimmed 2.5 sen to five sen.

The FBM Emas Index was 0.65 of a point easier at 11,617.38, the FBMT 100 Index decreased 2.71 points to 11,498.51, the FBM Emas Syariah Index was down 1.89 points to 11,565.57, while the FBM 70 eased 24. 53 points to 13,566.85.

The FBM Ace Index, however, rose 47.77 points to 4,505.87.

Sector-wise, the Finance Index advanced 16.92 points to 17,432.55 and the Plantation Index improved 2.8 points to 7,120.44, but the Industrial Products and Services Index slid 0.09 of-a-point to 164.78.

The physical price of gold as at 9.30am stood at RM164.37 per gramme, down 20 sen from RM164.57 at 5pm last Friday. — Bernama

email blast