KUALA LUMPUR, Jan 5 ― Bursa Malaysia rebounded from earlier losses to open higher today on renewed buying activity as investors took advantage of lower share prices.
At 9.07am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index rose 0.48 point to 1,653.85, after opening higher at 1,655.03.
Maybank Kim Eng said traders will trade the FBM KLCI today with a “Sell on Rallies” strategy.
“The weaker support areas are at 1,600.0 and 1,637.5 and investors will experience heavy liquidation at the 1,643.5 and 1,685.0 resistance levels,” it said.
Meanwhile, losers led gainers 107 to 132, with 194 counters unchanged, 1,290 untraded and 12 others suspended.
In thin trading, turnover only amounted to 79.58 million shares worth RM36.62 million.
On the scoreboards, the FBM Emas Index eased 1.14 points to 11,560.13, the FBMT100 Index increased 1.47 points to 11,237.92 and the FBM Emas Shariah Index declined 9.13 points to 12,538.81.
The FBM Ace decreased 6.65 points to 6,264.39 and the FBM 70 fell 4.64 points to 12,974.44.
On a sectoral basis, the Finance Index went up 24.27 points to 13,926.36, the Plantation Index increased 18.15 points to 7,521.57 and the Industrial Index lost 15.82 points to 3,166.64.
Among top losers, Petronas gave up 28 sen for RM21.36, KLK fell 20 sen to RM22.60, MISC eased 13 sen to RM9.14 and MAHB lost 11 sen to RM5.39.
For the local heavyweights, Maybank gained two sen to RM8.22, Public Bank edged up six sen to RM18.34 and TNB was flat at RM13.28. ― Bernama
