KUALA LUMPUR, July 24 — Share prices on Bursa Malaysia were traded firmer in early session today despite the overnight weak performance on the Wall Street, dealers said.
HwangDBS Vickers Research said after crossing and closing above the psychological mark of 1,800 yesterday, the key FBM KLCI would be eager to hold on to its recent gains ahead.
“On the chart, the benchmark index may pull away bit-by-bit as it targets to reach the resistance barrier of 1,825 next,” it said in a note today.
Among the stocks that will probably be of added interest on Bursa today are Kinsteel, which has secured the exclusive rights to carry out mining operations of all types of iron ore and other minerals in a 500-acre (202.34ha) mining site in Kuala Lipis.
Separately, both Tanjung Offshore and Tropicana shares may see action too after they have announced their individual private placement proposals of up to 10 per cent of the issued share capital at an issue price to be determined later.
On the scoreboard, the Finance Index rose 10.84 points to 17,372.75, the Plantation Index advanced 12.8 points to 8,447.33, but the Industrial Index lost 12.04 points to 3,053.61.
The FBM Emas Index increased 4.92 points to 12,594.8, the FBM100 Index gained 4.89 points to 12,331.97, the FBM ACE Index added 5.39 points to 5,007.37
but the FBM 70 Index fell 5.06 points to 14,514.61.
Market breadth was positive as gainers outpaced losers 123 to 42, while 106 counters were unchanged, 1,325 untraded and 14 others were suspended.
Turnover amounted to 44.099 million shares worth RM26.062 million.
Among actives, Kinsteel rose 2.5 sen to 30 sen, Flonic Hi-Tec inched up half-a-sen to 12 sen while Globaltec Formation was flat at 6.5 sen.
Heavyweights, Sime Darby earned two sen to RM9.56, Maxis added one sen to RM7.10, while Axiata Group was flat at RM6.83.
Maybank slipped two sen to RM10.70 and CIMB shed one sen to RM8.51. – Bernama
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