Bursa Malaysia trades higher in early session

Bursa Malaysia trades higher in early session

KUALA LUMPUR: Bursa Malaysia rebounded from the negative close yesterday to trade higher at opening Tuesday and in tracking the upbeat external environment.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.49 points to 1,650.64 from Monday’s close of 1,649.15.

The index opened 1.33 points easier at 1,647.82.

On the broader market, gainers outpaced decliners 154 to 71, while 138 counters remained unchanged, 1,547 untraded and 48 others suspended.

Turnover stood at 100.07 million shares worth RM33.94 million.

In a note today, Public Investment Bank Bhd said on Wall Street, the Dow Jones Industrial Average rose 14.51 points to 25,516.83, while the S&P 500 shed 2.35 points to 2,798.36.

“US stocks closed mostly lower Monday after data which showed weakness on the global economic front triggered heavy losses at the end of last week, while investors continued to fret over the inversion of the yield curve,“ it said.

Of the heavyweights, Maybank and PBBank rose two sen each to RM9.25 and RM23.78 respectively.

Tenaga added four sen to RM12.80, PChem gained seven sen to RM9.10 and CIMB was three sen higher at RM5.15.

Of actives, Bumi Armada and Scomi improved one sen each to 20.5 sen and 5.5 sen respectively.

Meanwhile, Velestro Energy was half a sen higher at 30 sen, while Sapura Energy and XOX were flat at 34.5 sen and five sen.

The FBM Emas Index increased 11.85 points to 11,575.36, the FBMT 100 Index bagged 10.84 points to 11,430.97 and the FBM Emas Shariah Index gained 11.85 points to 11,575.36.

The FBM 70 improved 15.27 points to 14,140.14 and the FBM Ace Index was 30.21 points higher to 4,773.5.

Sector-wise, the Financial Services Index added 37.34 points to 17,032.12, the Industrial Products and the Services Index increased 0.49 of-a-point to 168.09. The Plantation Index was 19.61 points lower at 7,166.73.

Gold futures contracts on Bursa Malaysia Derivatives were untraded in the early session on subdued demand, a dealer said.

At 9.45 am, March 2019 and April 2019 each remained unchanged at RM171.90 a gramme, while May 2019 and June 2019 stood at RM172.30 and RM172.60 a gramme respectively.

Volume was nil, while open interest amounted to 23 contracts.

At 9.30 am, the price of physical gold was up by 41 sen to RM166.99 per gramme. — Bernama

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