KUALA LUMPUR, June 9 ― Share prices on Bursa Malaysia rebounded from a lower opening, with rotational buying seen in index-linked counters, second and low liners, resulting in the key index recovering from its earlier losses.

At 11am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.70 points better at 1,787.28 from yesterday's 1,785.57 after opening 5.08 points lower at 1,782.86.

On the broader market, market breadth was positive with gainers outpacing decliners 330 to 278 while 378 counters were unchanged, 794 untraded and 23 others were suspended.

Turnover stood at 658.75 million shares worth RM538.92 million.

A dealer said Bursa reacted in tandem with most regional peers that were currently trading on a positive note and shruged off the political uncertainty in the UK.

“An early survey showed British Prime Minister Theresa May's Conservative Party might have lost its current parliament majority.

Another dealer said technically the market was probably forming a base as the movement of the key index was confined within tight range.

“Bursa is now going through rotational buying with interest distributed among second and low liner stocks,” he added.   

Among heavyweights, Maybank advanced three sen to RM9.60, TNB rose 16 sen to RM14.34, Public Bank added four sen to RM20.36, Sime Darby was flat at RM9.59 while CIMB retraced six sen to RM6.61.

Actively traded stocks this morning included Vivocom which erased half-a-sen to 12 sen, Asia Bioenergy added half-a-sen to 19.5 sen, Careplus bagged 2.5 sen to 43.5 sen while Frontken was flat at 31.5 sen.

On the scoreboard, the FBM Emas Index rebounded 13.00  points to 12,750.26, the FBMT100 Index added 11.80 points to 12,387.46 while the FBM Emas Shariah Index gained 17.90 points to 12,995.68.

The FBM 70 advanced 14.20 points to 15,219.61 and the FBM Ace appreciated 34.88 points to 6,366.36.

On a sectorial basis, the Finance Index bagged 10.35 points to 16,786.99, the Industrial Index improved 3.50 points to 3,310.63 but the Plantation Index trimmed 2.09 points to 7,939.54. ― Bernama