KUALA LUMPUR, June 9 — Bursa Malaysia opened lower this morning, but turned higher soon after, as traders showed some mild buying support, dealers said. 

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.08 points up at 1,659.93 from last Wednesday’s close of 1,657.85. 

The index opened 0.32 of-a-point lower at 1,657.53. 

Market breadth was better with 123 gainers and 52 losers, while 146 counters were unchanged, 1,373 untraded and 15 others suspended.

Turnover stood at 76.07 million shares worth RM34.41 million.

RHB Retail Research said from a technical perspective, the near-term positive sentiment would stay intact, as the index fails to negate the bullishness of June 7 (1,660.62) upside gap. 

“Overall, we think the rebound which began in early June, may persist.

“Hence, we advise traders to maintain long positions, since we had originally recommended initiating long above the 1,643 points level on June 7,” it said in a note today.  

The research house also said a stop-loss can be set below the 1,643 points level threshold as well,to limit the downside risk.  

The FBM Emas Index rose 14.22 points to 11,612.71, the FBMT 100 Index gained 14.21 points to 11,306.56 and the FBM Emas Shariah Index improved 18.39 points to 12,176.11.

The FBM 70 gained 16.56 points to 13,150.35 and the FBM Ace was 6.98 points better at 5,424.89.

Sector-wise, the Finance Index inched up 2.61 points to 14,332.85, while the Industrial Index increased 3.90 points to 3,120.13 and the Plantation Index perked 18.10 points to 7,622.92.

Top weighted Maybank gained two sen for RM8.29, TNB improved six sen to RM14.06, Public Bank bagged four sen for RM19.18, while Petronas Chemicals, IHH Healthcare and Axiata were each flat at RM6.70, RM6.44 and RM5.63 respectively.

Of actives, Sumatec and Vivocom were each flat at 11 sen and 28 sen, respectively, Bumi Armada added 1.5 sen to 75.5 sen and Vsolar increased half-a-sen to 10.5 sen. — Bernama