KUALA LUMPUR, Aug 11 — Share prices on Bursa Malaysia rebounded from last week’s losses to open higher on fresh buying support, mostly seen in heavyweight stocks, dealers said.

At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.28 points higher at 1,843.15, after opening 1.92 points better at 1,841.79.

AllianceDBS Research said given the weak close on last Friday, the index is expected to trade lower with immediate support at 1,830.

“A fall below 1,830 could send the index down to the next support at 1,800.

“The weekly FBM KLCI had also in the week ended Aug 8, broken the 1,860 support to reach a new low of 1,837.28 since March 28, before settling at 1,839.87.

“The downside penetration of the 1,860 level was triggered by heavy stock liquidation as many market participants rushed to reduce their stock portfolios exposure,” it said in a research note today.

Advancers outpaced decliners 289 to 65, while 167 counters were unchanged, 1,086 untraded and 12 others suspended.

Turnover stood at 363.13 million shares worth RM105.94 million.

On the scoreboard, the Industrial Index rose 9.16 points to 3,163.85 and the Finance Index jumped 40.35 points to 17,119.77.But the Plantation Index declined 1.77 points to 8,897.78.

The FBM Emas Index improved 29.33 points to 12,922.32, the FBMT100 Index gained 22.73 points to 12,484.34, the FBM 70 added 27.83 points to 14,278.97 while the FBM Ace advanced 38.37 points to 7,103.76.

For the heavyweights, Maybank and Public Bank rose two sen each to RM9.95 and RM18.98 respectively, TNB was up six sen to RM12.04 and Axiata improved one sen for RM6.95.

Among actives, MAS jumped two sen to 26 sen, PDZ Holdings gained 1.5 sen to 23.5 sen, Globatec Formation earned half a sen to 9.5 sen, while Luster Industries was one sen higher at 12 sen. — Bernama