KUALA LUMPUR, June 10 — Bursa Malaysia opened marginally higher this morning, but moved between negative and positive territory before settling at 1,650.52, 0.01 point higher at 9.15am. 

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) opened 1.14 points higher at 1,651.65.

The index closed at 1,650.51 yesterday. 

Market breadth was almost flat with 133 gainers and 132 losers while 148 counters were unchanged, 1,291 untraded and 15 others suspended.

Turnover stood at 143.46 million shares worth RM83.93 million. 

RHB Retail Research said it is still keeping a positive view in its near-term outlook given that the index continues to stay above the 21-day simple moving average (SMA) line and the 1,643.00-point support. 

Based on the daily chart, the immediate support level is anticipated at 1,643 points and crucial support maintained at 1,607 points. 

“Towards the upside, the immediate resistance level is maintained at 1,667 points. 

“If a decisive breakout arises, look to the 1,700-point psychological spot as the next resistance,” it said.

The research firm also advised traders to stay long, following its recommendation of initiating long above the 1,643.00-point level on June 7, which closed at 1,660.62.

It said a stop-loss is set below the 1,643.00-point threshold in order to minimise the downside risk. 

The FBM Emas Index rose 5.38 points to 11,550.25, the FBMT 100 Index gained 5.37 points to 11,241.69 and the FBM Emas Shariah Index added 6.60 points to 12,124.57.

The FBM 70 increased 25.05 points to 13,072.04 and the FBM Ace was 4.52 points better at 5,504.65.

Sector-wise, the Finance Index fell 0.87 point to 14,252.06 and the Plantation Index eased 0.68 point to 7,594.50 but the Industrial Index perked 4.18 points to 3,088.77.

Among heavyweights, Maybank decreased one sen to RM8.24, TNB rose 10 sen to

RM14.00, Public Bank gained two sen to RM19.06 and Petronas Chemicals shed four sen to RM6.62. 

Of the actives, Borneo Oil bagged half-a-sen to 15 sen, SapuraKencana Petroleum lost five sen to RM1.67 and Bumi Armada slipped half-a-sen to 75 sen. — Bernama