Bursa opens higher on bargain-hunting

On the broader market, gainers outnumbered losers 217 versus 181, while 273 counters were unchanged, 1,501 untraded and 11 others suspended. — Picture by Hari Anggara
On the broader market, gainers outnumbered losers 217 versus 181, while 273 counters were unchanged, 1,501 untraded and 11 others suspended. — Picture by Hari Anggara

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KUALA LUMPUR, Aug 2 — Bursa Malaysia rebounded from last week’s downtrend to open higher this morning as bargain-hunting emerged on the back of improved market sentiment.

At 9.06 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 2.54 points to 1,497.14 from Friday’s close of 1,494.6.

The index opened 2.79 points higher at 1,497.39.

On the broader market, gainers outnumbered losers 217 versus 181, while 273 counters were unchanged, 1,501 untraded and 11 others suspended.

Turnover stood at 236.56 million units worth RM108.34 million.

A dealer said sentiment in the market was lifted up by easing concerns over regulatory crackdown in China that has caused Asian equities to tumble to a seven-month low last week.

Of the heavyweights, Maybank gained two sen to RM8.03, Public Bank and CIMB added one sen each to RM3.99 and RM4.46, respectively, while Tenaga was flat at RM9.64.

PetChem eased three sen to RM8.01 and IHH lost six sen to RM5.58.

 Among the actives, M3 slipped 1.5 sen to five sen, MAG was flat at 19 sen, Datasonic bagged 2.5 sen to 48.5 sen and Resintech increased 15.5 sen to 75 sen.

On the index board, the FBM Emas Index advanced 32.13 points to 11,005.6, the FBMT 100 Index improved 28.8 points to 10,710.05, the FBM 70 soared 80.67 points to 14,598.96, the FBM Emas Shariah Index went up 37 points to 12,086.08, while the FBM ACE eased 6.43 points to 7,134.16.

Sector-wise, the Financial Services Index was 37.06 points higher at 14,718.52, while the Plantation Index eased 6.64 points to 6,032.4 and the Industrial Products and Services Index slid 0.09 of-a-point to 187.11.

Meanwhile, trading in shares of Pecca Group Bhd has been halted from 9 am today, pending the release of a material announcement. — Bernama

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