KUALA LUMPUR, July 1 — Bursa Malaysia extended its gains to open higher today as the latest ratings by Fitch on Malaysia’s outlook fuelled optimism on the country’s economy, dealers said.

Fitch affirmed the country’s long-term foreign currency rating at A-and revised upwards its outlook to stable from negative.

At 9.08am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 8.11 points better at 1,714.75 after opening 4.98 points higher at 1,709.77.

Minister in the Prime Minister’s Department Datuk Seri Wahid Omar said the credence shown by the international rating agency was now in line with S&P (A-,Stable Outlook) and Moody’s (A3, Positive Outlook).

Gainers led losers 258 to 60 with 110 counters unchanged, 1,378 untraded and 35 others were suspended.

Turnover stood at 158.97 million shares worth RM65.63 million.

On the scoreboard, the FBM Emas Index expanded 64.09 points to 11,836.03, the FBMT100 Index advanced 61.80 points to 11,520.54 and the FBM Emas Syariah Index jumped 74.891 points to 12,283.74.

The FBM Ace, meanwhile, soared 104.42 points to 6,324.71 and the FBM 70 climbed 95.85 points to 12,822.96.

On a sectoral basis, the Plantation Index rose 40.15 points to 7,308.68 and the Finance Index perked 80.21 points to 15,512.77 while the Industrial Index edged up 6.01 points to 3,138.36.

Among heavyweights, iDimension Consolidated and Nexgram each gained half-a-sen to 13.5 sen and 10.5 sen, respectively, while R&A Telecommunication and Nova MSC were each flat at 1.5 sen and 15 sen, respectively. — Bernama