KUALA LUMPUR, Oct 22 — Bursa Malaysia opened marginally lower but turned firmer thereafter, in line with regional peers and the stronger overnight performance on Wall Street.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 0.44 of-a- point to 1,571.37 from Monday's close of 1,570.93, after opening 0.66 of-a-point easier at 1,570.27.
Market breadth was positive as gainers led losers 146 to 80 with 189 counters unchanged, 1,602 untraded and 36 others suspended.
Turnover amounted to 128.43 million shares worth RM54.62 million.
Malacca Securities Sdn Bhd, however, expect the FBM KLCI to linger longer in a sideways trend under the prevailing environment.
"Upsides still look elusive given the lack of fresh leads and continuing wariness over corporate earnings growth potential.
"At the same time, there is also little selling pressure as the foreign selling has dissipated for now," it said.
The stockbroking firm anticipated the key indicator to continue trending within the tight range of between 1,566 and 1,576, for now.
Meanwhile, in a separate note, Public Investment Bank Bhd said the FBM KLCI is anticipated to be trending sideways around the 1,565-mark for the rest of the week.
"Support levels for the index are at 1,500, 1,515 and 1,551, while the resistance levels are at 1,580, 1,600 and 1,622," it said.
Regionally, Japan’s Nikkei added 0.25 per cent to 22,548.90, Hong Kong’s Hang Seng Index increased 0.33 per cent to 26,813.8158 and Singapore’s Straits Times Index gained 0.98 per cent to 3,169.96.
Among heavyweights, Maybank gained three sen at RM8.52, Public Bank added four sen to RM19.32, IHH was one sen better at RM5.67, Tenaga slid 10 sen to RM13.70 while Petronas Chemicals was unchanged at RM7.40.
Of the most actives, Green Packet warrant and NetX were flat each at 32 sen and two sen, respectively, Bumi Armada and Lay Hong increased half-a-sen each to 48.5 sen and 51 sen while Ucrest was 1.5 sen higher at 16 sen.
Carlsberg was the top gainer, bagging 28 sen to RM26.54 while the top loser, Nestle shed 60 sen to RM143.60.
The FBM 70 expanded 11.45 points to 14,130.71, the FBMT 100 Index rose 4.47 points to 11,007.68 and the FBM Ace advanced 22.21 points to 4,853.62.
The FBM Emas Index strengthened 5.72 points to 11,198.02, but the FBM Emas Shariah Index declined 3.64 points to 11,805.01.
Sector-wise, the Financial Services Index accumulated 23.27 points to 15,244.46, the Industrial Products & Services Index was 0.17 of a point firmer at 152.81 but the Plantation Index fell 9.66 points to 6,629.81. — Bernama