KUALA LUMPUR, April 1 — Shares on Bursa Malaysia were marginally higher in the early session, tracking the positive performance of Wall Street last Friday.

At 9am, the index gained 2.35 points to 1,645.98 from Friday's close of 1,643.63.

It opened 2.8 points better at 1,646.43.

On the broader market, gainers outnumbered decliners 147 to 30, while 134 counters remained unchanged, 1,546 untraded and 19 others suspended.

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Turnover stood at 53.63 million shares worth RM24.06 million.

Research company, Malacca Securities Sdn Bhd expects some positive impact to permeate the local stocks today after headway by overseas indices at the end of last week.

“The more positive market undertone should also provide a lift to the lower liners and broader market shares over the near term. We see trading activities picking up as retail players capitalise on the positive undertone to bargain hunt on some of the beaten down stocks,” it said.

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The trade talks between the US and China is making headway and this could provide the much needed impetus to Malaysian stocks over the near term, it added.

Malacca Securities sees the 1,650 level serving as the main hurdle for now. Thereafter, the resistances are at 1,654 and 1,657 respectively. The supports are at 1,641 and 1,635 respectively.

Of the heavyweights on Bursa, Maybank rose one sen to RM9.28, Public Bank jumped eight sen to RM23.24, Tenaga inched up four sen to RM12.70 while Petronas Chemicals was flat at RM9.16.

Of actives, GD Express added two sen to 36.5 sen, Gets Global, IFCA and Borneo Oil were half-a-sen better each at 34 sen, 45 sen and 4.5 sen, respectively.

The FBM Emas Index increased 19.92 points to 11,573.76, the FBMT 100 Index gained 19.38 points to 11,426.73 and the FBM Emas Shariah Index added 20.12 points to 11,708.18.

The FBM 70 appreciated 36.43 points to 14,249.07 and the FBM Ace Index was 8.9 points better at 4,841.05.

Sector-wise, the Financial Services Index bagged 19.18 points to 16,988.31, the Industrial Products and Services Index increased 0.21 of-a-point to 169.14, but the Plantation Index fell 5.38 points to 7,180.73. — Bernama