KUALA LUMPUR, Oct 16 — Bursa Malaysia remained higher at mid-morning today, lifted by buying interest in small cap stocks and selected heavyweights.
At 11am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.69 points higher at 1,714.94, after opening 3.76 points better at 1,717.01.
Among heavyweights, Maybank rose two sen to RM8.63, Public Bank added four sen to RM18.62, TNB was two sen higher at RM12.80, SP Setia garnered one sen to RM3.28 and CIMB was flat at RM5.00.
In its technical analysis note today, RHB Research advised traders to stay long, while setting a trailing-stop below the 1,664.50-point threshold to lock in part of the profits.
The research house sees the immediate support level at 1,664.50 points and the immediate resistance level at 1,745 points.
Meanwhile, Alliance DBS Research said analysis of overall market action yesterday revealed that buying power was stronger than selling pressure.
“As such, FBMKLCI would likely trade above the 1,721.34 level today,” it added.
Among actives, MQ Technology and Frontken were both flat at 14 sen and 23 sen respectively, Xox increased one sen to 20 sen, AirAsia was two sen higher at RM1.48 while Wintoni advanced four sen to 19.5 sen.
Market breadth was positive with gainers outpacing decliners 347 to 272, while 316 counters were unchanged, 872 untraded and 17 others suspended.
Turnover stood at 983.16 million shares worth RM553.67 million.
On the scoreboards, the FBM Emas Index gained 16.08 points to 11,797.18, the FBMT100 Index increased 14.98 points to 11,503.5, while the FBM Emas Shariah Index perked 21.48 points to 12,553.93.
The FBM 70 was up 30.06 points to 12,735.64 and the FBM Ace expanded 45.32 points to 6,075.33.
Sector-wise, the Finance Index was up 26.01 points to 14,686.66, the Industrial Index was 16.25 points higher at 3,337.03 while the Plantation Index garnered 1.72 points to 7,463.66. — Bernama
