KUALA LUMPUR: Bursa Malaysia extended yesterday’s gains to open higher this morning on buying support in the index-linked counters amid positive market sentiment.
At 9.07am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.59 points to 1,580.38 from Tuesday’s close of 1,577.79.
The key index opened 5.21 points better at 1,583.
There were 132 gainers and 100 losers, while 201 counters were unchanged, 1,564 untraded and 50 others suspended.
Turnover amounted to 100.98 million shares worth RM59.93 million.
Maybank IB Research said market breadth in Bursa turned bullish yesterday as positive developments over US-China trade negotiations brought relief to equity markets while the focus has shifted to the Federal Open Market Committee meeting.
“Technically, we expect the FBM KLCI to range between 1,560 and 1,590 today. Downside supports are at 1,550 and 1,539,” the research firm said in a note today.
The US Federal Reserve is expected to lower its key interest rate target range by 25 basis points with the decision will be announced later today.
Among heavyweights, Maybank gained two sen to RM8.49, Petronas Chemicals rose five sen to RM7.47, IHH added one sen to RM5.74, and CIMB perked four sen to RM5.07.
Tenaga slipped two sen to RM13.74 and Public Bank lost eight sen to RM19.26.
Of the actives, IFCA bagged two sen to 51.5 sen, Velesto inched up half-a-sen to 37.5, Mudajaya improved 1.5 sen to 22.5 sen while Netx was flat at two sen.
The FBM Emas Index increased 15.22 points to 11,214.84, the FBMT 100 Index advanced 16.14 points to 11,026.48, the FBM Ace earned 23.43 points to 4,951.55, the FBM Emas Shariah Index perked 16.79 points to 11,832.81, and the FBM 70 edged up 12.67 points to 13,973.47.
Sector-wise, the Financial Services Index was 19.16 points higher at 15,289.33, the Plantation Index added 2.44 points to 6,695.74, and the Industrial Products & Services Index inched up 0.45 point to 153.6. - Bernama
