Bursa extends gains, CI opens at 1,500 level

A view of the bursa stock market exchange board in RHB Investment Bank in Kuala Lumpur February 6, 2018. — Picture Ahmad Zamzahuri
A view of the bursa stock market exchange board in RHB Investment Bank in Kuala Lumpur February 6, 2018. — Picture Ahmad Zamzahuri

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KUALA LUMPUR, Dec 8 — Bursa Malaysia extended gains after a rebound with the barometer index opening at 1,500 level today.

At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 1.09 points to 1,499.06 from 1,497.97 at Tuesday’s close.

The market bellwether opened 2.60 points better at 1,500.57.

On the broader market, gainers led decliners 291 to 100, while 226 counters were unchanged, 1,670 untraded and 21 others suspended.

Turnover stood at 202.64 million units valued at RM115.75 million.

Malacca Securities Sdn Bhd reckons that the overnight rally on Wall Street may spill over to the local bourse amid fading concerns over the Omicron variant.

Besides, the market may keep an eye on China’s economic data inflation and producer price index, which will be released on Thursday.

Domestically, the government will be deciding on the 5G wholesale model by January 2022, targeting to reach 80 per cent of the populated areas with 5G rollout, which may benefit the telecommunication sector.

“Commodity-wise, crude oil price advanced to close above the US$75 per barrel mark, while crude palm oil price extended gains.

“Besides, the technology sector may see buying interest building up, mirroring the overnight rally on Nasdaq,” it said in a note today.

Among the heavyweights, Petronas Chemicals rose six sen to RM8.44, while IHH, Sime Darby Plantation and Dialog gained three sen each to RM6.58, RM3.78 and RM2.52, respectively.

Genting Malaysia and MISC rose four sen to RM2.80 and RM6.50, respectively.

Of the actives, Sapura Energy, MMAG and NWP were flat at five sen, nine sen and 24.5 sen, respectively.

G3 Global and Kejuruteraan Asastera added half-a-sen each to 14 sen and 29.5 sen, respectively.

On the index board, the FBM Emas Index advanced 24.50 points to 10,933.19, the FBMT 100 Index bagged 20.28 points to 10,633.43, and the FBM Emas Shariah Index was 32.63 points higher at 11,807.46.

The FBM 70 improved 76.79 points to 14,140.15 and the FBM ACE edged ticked up 42.65 points to 6,308.35.

Sector-wise, the Industrial Products and Services Index inched up 0.51 of-a-point to 193.88, the Financial Services Index expanded 15.62 points to 15,179.57, and the Plantation Index added 11.56 points to 6,437.46. — Bernama

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