Bursa Malaysia opens slightly higher

KUALA LUMPUR: Bursa Malaysia opened slightly higher today on mild bargain-hunting, tracking the better overnight performance of Wall Street.

At 9.11am, the key FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.47 points to 1,636.78 from Tuesday’s close of 1,635.31.

The index opened 0.63 of-a-point better at 1,636.94.

In a note, Kenanga Research said US stocks ended higher, after another volatile session as investors continued to adopt a cautious approach in view of a potential interest rate hike by the Federal Reserve this week and declining oil prices.

On Wall Street, the Dow was higher by 0.35% to close at 23,675.64, the S&P 500 rose 0.01 per cent to 2,546.16 and Nasdaq increased 0.45% to 6,783.91.

On the broader market on Bursa Malaysia, there were 130 gainers and 111 losers, with 131 counters unchanged, 1,532 untraded and 40 others suspended.

Volume stood at 134.61 million units valued at RM74.85 million.

Among heavyweights, Maybank gained three sen to RM9.25, Public Bank lost 10 sen to RM24.16, Tenaga declined 12 sen to RM12.58 and Petronas Chemicals eased one sen to RM9.14.

Among actives, Hubline was unchanged at four sen, Hibiscus Petroleum eased nine sen to 77 sen and Tatt Giap gained 1.5 sen to 24.5 sen.

The FBM Emas Index increased 10.31 points to 11,173.39, the FBMT 100 Index increased 12.03 points to 11,092.34, the FBM Emas Syariah Index rose 4.88 points to 11,073.13, the FBM Ace Index was 9.25 points higher at 4,198.36 and the FBM 70 garnered 21.97 points to 12,720.43.

Sector-wise, the Industrial Products and Services Index was 0.07 of a point better at 164.33, the Financial Services Index fell 2.02 points to 17,018.04, and the Plantation Index rose 18.85 points to 6,506.76.

The physical price of gold as at 9.30am stood at RM162.30 per gramme, up 16 sen from RM162.14 at 5pm yesterday. — Bernama

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