KUALA LUMPUR, Oct 21 — Shares on Bursa Malaysia opened lower but picked up momentum, supported by buying interest, in tandem with the performance of its regional peers, dealers said.
Three minutes after the opening, the FBM KLCI stood 1.88 points higher at 1,801.47, after opening 0.67 of a point lower at 1,798.92.
Gainers led losers 92 to 50, with 115 counters unchanged, 1,364 untraded and 14 others suspended. Turnover stood at 61.59 million shares worth RM20.84 million.
HwangDBS Vickers Research said the positive external vibes could lift sentiment on the local bourse today.
“From a technical perspective, the benchmark FBM KLCI is poised to overcome the psychological mark of 1,800, possibly making its way towards the next resistance hurdle of 1,825 ahead,” it said in a note today.
On the corporate scene, construction counters may attract interest today after a local daily reported that the feasibility study for the third Light Rail Transit, connecting Kelana Jaya to Klang through Shah Alam with a project cost of RM8 billion to RM9 billion, would be completed by the end of next month.
“Separately, Aeon Credit Service Malaysia shares could also be in the limelight too following its strong quarter earnings jump, up 34 per cent to RM43 million,” it added.
On the scoreboard, the Finance Index fell 11.21 points to 16,797.85 but the Plantation Index rose 20.97 points to 8,450.72 and the Industrial Index was 1.28 points higher at 3,096.20. The FBM Emas Index rose 12.64 points to 12,543.81, the FBMT100 Index 11.89 points to 12,273.9, the FBM Ace 19.41 points to 5,548.90 and the FBM 70 10 points to 14,345.93.
Among actives, Hubline and Hovid rose 1 sen each to 6.5 sen and 32 sen respectively, and Hubline-Wa added 0.5 sen to 2 sen.
Of the heavyweights, Maybank rose 1 sen to RM9.94 and CIMB 3 sen to RM7.58. Axiata was flat at RM6.91. — Bernama
