KUALA LUMPUR, Oct 2 — Share prices on Bursa Malaysia opened higher in early trading today on renewed buying interest, dealers said.
Gainers thumped losers 125 to 55, with 128 counters unchanged, 1,287 untraded and 14 others suspended.
Trading stood at 52.94 million shares worth RM40.66 million.
HwangDBS Vickers Research said the key FBM KLCI is expected to stage a technical rebound following cumulative losses of 1.8 per cent over the past one week.
“On the chart, the benchmark index may recover towards the immediate resistance line of 1,785 ahead,” it said in a note today.
The research house said despite a partial shutdown in the US government, major stock indices on Wall Street rose between 0.4 per cent and 1.2 per cent last night.
“Essentially, investors are taking a view that there would be limited economic consequences and the budget impasse could be resolved soon.
“This will likely give a lift to sentiments across the region today,” it said.
Meanwhile, the research firm said stocks that could add interest today was Puncak Niaga following reports that it was close to selling its water concessions to the Selangor state government.
Others are Favelle Favco, which has received purchase orders for the supply of offshore cranes for a combined value of RM109 million and Bina Puri which has won a building construction job worth RM97 million.
On the scoreboard, the Industrial Index improved 25.64 points to 3,065.68, the Finance Index gained 29.6 points to 16,428.6 but the Plantation Index fell 3.82 points to 8,312.02.
The FBM Emas Index rose 22.63 points to 12,324.06, the FBM100 Index was 22 points higher at 12,059.88, the FBM Ace increased 7.9 points to 5,532.47 and the FBM 70 garnered 24.94 points to 14,033.48.
Among actives, INS Bioscience fell two sen to 30 sen, Sona Petroleum -WA was flat at 29 sen and Astral Supreme rose half-a-sen to 23 sen.
Of the heavyweights, Maybank added four sen to RM9.84, Axiata earned two sen to RM6.91 and CIMB was up one sen to RM7.51. – Bernama
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