KUALA LUMPUR, May 14 — Share prices on Bursa Malaysia opened higher today in rebounding from an oversold position, dealers said.

At 9.31am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.8 points better at 1,805.82 after opening 3.1 points higher at 1,806.02.

A dealer said while the market had recovered, sentiment remained cautious with most investors sidelined ahead of the release of Malaysia’s first quarter gross domestic product numbers tomorrow.

"Immediate support for the index is set at the 100-day moving average level of 1,795, matching yesterday’s low, with immediate resistance at 1,815, the 200-day moving average," he added.

On the scoreboard, the FBM Emas Index gained 19.21 points for 12,459.87, the FBMT100 Index increased 18.58 points to 12,135.38, and FBM 70 improved 19.8 points to 13,515.28.

The FBM Emas Syariah Index gained 12.36 points to 12,936.54 and the FBM Ace chalked up 28.08 points to 7,002.84.

On a sectoral basis, the Plantation Index increased 4.75 points to 7,490.86 and the Finance Index jumped 53.24 points to 16,061.5.But, the Industrial Index declined 8.15 points to 3,258.43.

Gainers led losers 186 to 114 with 208 counters unchanged, 1,285 untraded and 27 others suspended.

Turnover stood at 176.99 million shares worth RM106.1 million.

Among heavyweights, Maybank and Axiata added one sen each to RM9.27 and RM6.74 respectively, and Public Bank gained eight sen for RM19.26.

TNB was flat at RM13.80, while Sime Darby lost five sen to RM8.99.

For actively traded stocks, Hovid garnered 3.5 sen to 52 sen and Systech earned half a sen to 35.5 sen.

Perisai Petroleum, Frontken and Kanger were flat at 54.5 sen, 26.5 sen and 23.5 sen respectively.

Perdana Petroleum shares was suspended for the whole day today upon request by the company to pave the way for a material corporate transaction with major shareholder, Dayang Enterprise Holdings Bhd.

Meanwhile, Bursa Malaysia has issued an unusual market activity query to

Only World Group Holdings Bhd, due to the recent increase in the company’s share price. — Bernama