Bursa Malaysia slightly higher at opening

KUALA LUMPUR: Bursa Malaysia opened slightly higher, alongside the positive performance of regional peers.

At 9am, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 0.10 of-a-point to 1,655.50 after closing at 1655.40 on Monday.

It opened 0.67 of a point lower at 1,654.73.

Gainers were up 119 against 49 losers, while 149 counters were unchanged, 1,571 untraded and 16 others suspended.

Turnover stood at 64.85 million units worth RM23.74 million.

Malacca Securities Sdn Bhd said despite the slightly higher index on the local bourse, there is still a lack of direction in the (equities) market.

“We continue to think that the key index is likely to drift over the near term. As it is, the index is on a consolidation spell after a strong six-week run up that has left it overbought.

“Meanwhile, the ongoing pullback is nearing its course as the key index looks to find a support around the 1,650 level, which it did yesterday. However, a firm rebound remains elusive as yet, given that there are still few noteworthy leads to entice fresh buying,” the research company said in a statement.

Among top gainers among heavyweights were IHH which rose three sen to RM5.83, Maybank gained one sen to RM8.83, while MISC was two sen better at RM7.36.

Of the gainers, LTKM jumped 19 sen to RM1.33, G3 Global added seven sen to RM2.13 and Scicom was five sen higher at RM1.01.

The FBM Emas Index bagged 2.78 points to 11,773.16 and the FBMT 100 Index inched up 1.97 points to 11,599.41.

The FBM Emas Syariah Index was 9.63 points higher at 12,166.79, the FBM 70 gained 7.5 points to 14,899.45 and the FBM Ace increased 27.25 points to 4,730.58.

Sector-wise, the Financial Services Index eased 10.89 points to 16,522.94, the Plantation Index improved 24.66 points to 6,809.50 and the Industrial Products & Services Index was up by 0.65 of a point to 156.80.

The physical price of gold as at 9.30am stood at RM181.42 per gramme, down 87 sen from RM182.29 at 5pm yesterday. — Bernama

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