Money
Bursa opens lower and gains momentum thereafter

KUALA LUMPUR, Aug 13 — Bursa Malaysia opened lower but rose thereafter extending its gains frolm yesterday aided by regional strength and investors returning from the Hari Raya Aidilfitri holidays to pick up good bargains, dealers said.

At 9.07am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.85 of-a-point higher at 1,785.42, after opening 0.11 of-a-point lower at 1,784.46.

A dealer said bluechips were likely to remain in consolidation mode while small caps in the construction and oil and gas sector would highlight trading with keen rotational play.

“On the chart, the benchmark FBM KLCI’s next resistance will be at the all-time high of 1,826 while immediate support stays at 1,772,” he said.

On the scoreboard, the Plantation Index fell 12.08 points to 8,284.55 and the Industrial Index slipped 0.02 of a point to 3,017.87 but the Finance Index gained 1.17 points to 16,985.68.

The FBM Emas Index firmed 5.05 points to 12,452.62, the FBM100 Index added 4.96 points to 12,187.41 and the FBM 70 Index earned 2.521 points to 14,339.58.

Gainers outpaced losers 124 to 54, with 139 counters unchanged, 1,256 untraded and 11 others were suspended.

Turnover totalled 80.08 million shares worth RM37.34 million.   

Among actives, Astral Supreme, Flonic and Luster Industries added half-a-sen each to 24 sen, 17.5 sen and 10 sen, respectively, AWC gained 1.5 sen to 29.5 sen while Nextnation Communication was unchanged at nine sen.

Heavyweights, CIMB added three sen to RM7.99 while both Axiata and Sime Darby gained one sen each to RM6.91 and RM9.49, respectively.

Maybank lost four sen to RM10.44 while Petronas Chemicals was unchanged at RM7.27. – Bernama 

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