KUALA LUMPUR, Feb 27 — Shares on Bursa Malaysia opened higher on mild buying support, with interest seen in finance counters, dealers said. At 9.20am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,826.34, up 3.79 points, after opening 0.96 of a point better at 1,826.34.
HwangDBS Vickers Research said the benchmark FBM KLCI was set to stage a technical rebound today after encountering a sudden drop in the last minutes of trading yesterday.
“On the chart, the bellwether is expected to overcome the immediate support-turned-resistance level of 1,825 ahead,” it said in a note today.
“Hoping to piggyback on a market recovery today are companies that have announced strong financial results last evening.”
The research firm said more earnings reports were due today, including two results at lunchtime by Maybank and Telekom Malaysia.
On the scoreboard, the Finance Index improved 75.53 points to 16,479.46, the Plantation Index added 36.67 points to 8,747.14 and the Industrial Index rose 2.93 points to 3,136.49.
The FBM Emas Index was up 26.95 points to 12,620.45, the FBMT100 Index gained 25.47 points to 12,288.24, the FBM 70 added 28.48 points to 13,739.46 and the FBM Ace improved 25.95 points to 6,650.51.
Gainers outpaced losers 180 to 137 while 201 counters were unchanged, 1,113 untraded and 33 others were suspended.
Turnover stood at 243.34 million shares worth RM97.78 million.
Among actives, Nexgram Holdings, Naim Indah and PDZ Holdings rose 0.5 sen each to 15.5 sen, 14 sen and 11.5 sen respectively.
As for heavyweights, Maybank earned 1 sen to RM9.66, Tenaga Nasional lost 6 sen to RM11.88 while CIMB gained 19 sen to RM7.09. — Bernama
