KUALA LUMPUR, Feb 12 ― Share prices open higher for the fourth consecutive day today as positive sentiments continue to prompt investors’ appetite, dealers said.
As at 9.10am, the key index stood at 1,826.75, up 1.91 of a point after opening 2.21 points lower at 1,821.96.
HwangDBS Vickers Research said Wall Street rebounded further last night, jumping between 1.0-1.2 per cent at the closing bell, amid optimism that the pace of future monetary stimulus cuts would be gradual following remarks by the new Federal Reserve chairman.
“Riding on the positive momentum, the key FBM KLCI could extend its run-up today.
“Technically speaking, the benchmark index is poised to cross above the immediate resistance threshold of 1,825, probably making its way towards the next resistance hurdle of 1,840 soon,” the research house said in a note.
On the scoreboard, the Finance Index shed 2.63 points to 16,661.71, the Industrial Index advanced 5.45 points to 3,094.99, and the Plantation Index improved 27.8 points to 8,544.51.
The FBM Emas Index was 13.65 points higher at 12,606.79, the FBMT100 Index increased 11.94 points to 12,302.78, the FBM 70 rose 9.99 points to 13,819.31, and the FBM Ace surged 15.2 points to 6,147.81 points.
Market breadth was positive, with gainers overcoming losers by 195 to 63, while 154 counters were unchanged, 1,194 untraded and 18 others suspended.
Turnover stood at 162.26 million shares worth RM66.49 million.
Among actives, China Stationery and Xidelang Holdings earned one sen each to 21.5 sen and 36 sen, respectively, while both Sona Petroleum and PDZ Holdings were flat at 54.5 sen and 13 sen, respectively.
As for heavyweights, Maybank slipped one sen to RM9.81, Axiata was two sen weaker at RM6.54, TNB climbed six sen to RM11.86 and CIMB added one sen to RM7.24. ― Bernama
