KUALA LUMPUR, July 6 — Bursa Malaysia opened higher today bucking the regional performance in continuing last week's upward momentum.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) improved 3.52 points to 1,556.17 from Friday’s close of 1,552.65.
The index opened 1.14 points higher at 1,553.79.
Overall market breadth was positive with gainers led losers 303 to 106, while 271 counters were unchanged, 1,244 untraded and 23 others suspended.
Total volume stood at 460.23 million shares worth RM182.23 million.
Malacca Securities Sdn Bhd in a note today said, despite five consecutive days of winning streak, it opined upsides are still on the cards but will be restrained by the Covid-19 situation across the globe.
Although the global economic recovery came in better-than-anticipated, investors will now shift their attention to the upcoming batch of corporate earnings in the US to assess the impact of the pandemic.
“The FBM KLCI gapped up and lingered in the positive territory throughout the entire trading session as the key index recorded its first weekly gain in four weeks, forming a flag-formation breakout on Friday.
“The move may prompt further gains towards the 1,580 and 1,590 resistances with support level is now pegged at 1,510 followed by 1,500,” it added.
Among heavyweights, Tenaga and Petronas Chemicals added four sen each to RM11.80 and RM6.72 respectively, Public Bank gained two sen to RM17.08 and Hartalega rose 30 sen to RM16.30.
Maybank was flat at RM7.71.
Of the most active, Anzo improved two sen to 20 sen, Sino Hua-An increased 1.5 sen to 10.5 sen, Vivocom edged up half-a-sen to four sen while DGB Asia and Fintec Global were flat at three sen and 7.5 sen respectively.
On the index board, the FBM Emas Index expanded 31.35 points to 10,939.38, the FBMT 100 Index increased 31.20 points to 10,791.77.54 and the FBM 70 climbed 65.89 points to 13,393.59.
The FBM Emas Shariah Index was 50.34 points higher at 12,532.72 and the FBM ACE surged 98.72 points to 6,839.53.
Sector-wise, the Financial Services Index reduced 2.11 points to 13,075.94, the Plantation Index fell 4.87 points to 6,808.48, but the Industrial Products and Services Index grew 0.51 of a point to 140.68. — Bernama
