Bursa Malaysia opens easier, but rebounds thereafter

: Bursa opened marginally lower, but rebounded minutes thereafter in tracking the better performance of Asian peers, while taking cue from the mixed overnight performance of , dealers said.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.50 points better at 1,759.46 from Monday’s close of 1,757.96.

The index opened 0.42 of-a- point easier at 1,757.54.

On the broader market, gainers led losers 161 to 85 with 186 counters unchanged, 1,503 untraded and 39 others suspended.

Volume stood at 124.79 million units valued at RM66.88 million.

A dealer said Asian stocks were mostly higher in early trade today in tracking Wall Street’s performance amid gains in US technology shares which set the sector at a record high, alongside rising Ten-year Treasury yields in boosting financials.

Maybank Investment Bank Bhd in a research note said the local market could be choppy in the early trading on continued worries that a trade war may spill into the currency market.

“That said, export-related stocks may continue to attract interest amid a weak ringgit. Technically, we expect the FBM KLCI to trade between 1,730 and 1,760 today. Downside supports are at the 1,726 and 1,709 levels,” it said.

Among heavyweights, Maybank eased one sen to RM9.80, Tenaga shed six sen to RM14.70, Petronas Chemicals added one sen to RM8.82, CIMB gained two sen to RM5.88, while was flat at RM23.96.

Among actives, Radiant Globaltech rose 33.5 sen to 56.5 sen, Sino Hua-An and RGB International edged up half-a-sen each to 36.5 sen and 27 sen respectively, MyEG added four sen to RM1.34 sen, while Revenue Group slid one sen to 79.5 sen.

The FBM Emas Index was 22.93 points better at 12,509.54, the FBMT 100 Index increased 17.17 points to 12,285.42 and the FBM Ace Index bagged 4.37 points to 5,443.77.

The FBM Emas Syariah Index advanced 34.25 points to 12,631.41 and the FBM 70 rose 65.39 points to 15,507.90.

Sector-wise, the Finance Index improved 3.98 points to 17,359.07, the Industrial Index gained 17.75 points to 3,236.56 and the Plantation Index was up 3.46 points to 7,504.03.

The physical price of as at 9.30am stood at RM154.48 per gramme, down 66 sen from RM155.14 at 5.00pm yesterday. — Bernama

Source: The Sun Daily

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