Bursa Malaysia opens higher

BURSA Malaysia has continued its uptrend this morning, supported by buying in selected heavyweights amidst positive sentiments in regional markets, dealers said.

At 9.15 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) added 2.50 points to 1,508.78 from Monday’s close of 1,515.39.

The barometer index opened 2.36 points better at 1,517.75.

On the broader market, gainers edged past losers 216 to 213, while 314 counters were unchanged, 1,515 untraded and 73 others suspended.

Turnover amounted to 370.40 million units worth RM209.18 million.

In a note today, Malacca Securities said the FBM KLCI closed above the 1,500 psychological level yesterday with high conviction price action, continuing its winning streak for the sixth session, led by the banking heavyweights.

“Also, the United States stock markets marched stronger for the session ahead of the Federal Open Market Committee (FOMC) meeting as well as earnings reports by technology giants this week.

“However, as the Hong Kong court has ordered the liquidation of China’s Evergrande Group, we believe it may cause the overall sentiment to turn negative at least for the near term, translating to potential profit-taking mode on the local front,” it said.

Among the heavyweights, Maybank inched up 1.0 sen to RM9.24, Public Bank and CIMB were flat at RM4.41 and RM6.22, respectively, while Tenaga Nasional slipped 2.0 sen to RM10.48 and IHH Healthcare fell 5.0 sen to RM6.10.

As for the actives, ACE-market debutante HE Group rose 12.5 sen to 40.5 sen, while YNH Property declined 6.5 sen to 78 sen, Widad Group eased half-a-sen to 15 sen and TWL Holdings was flat at 4.0 sen.

On the index board, the FBM Emas Index was 4.85 points higher at 11,286.03 and the FBMT 100 Index rose 6.21 points to 10,942.18, while the FBM 70 Index decreased 17.68 points to 15,273.84,  the FBM Emas Shariah Index reduced 4.82 points to 11,326.61 and the FBM ACE Index went down 16.80 points to 4,802.38.

Sector-wise, the Property Index improved by 1.79 points to 930.69, the Plantation Index declined 20.49 points to 7,242.11 and the Energy Index fell 1.32 points to 882.24.

The Financial Services Index bagged 7.59 points to 16,950.17 and the Industrial Products and Services Index eased 0.08 of-a-point to 174.8. — BERNAMA / pic TMR