Bursa bucks regional trend to open higher

KUALA LUMPUR, Nov 15 — Bursa Malaysia bucked the regional trend to open higher today, buoyed by the firmer ringgit.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.62 points better at 1,735.23 from yesterday's close of 1,733.61.

The index opened 0.29 of-a-point better at 1,733.90 at 9am.

On the broader market, gainers led losers 101 to 91 while 193 counters remained unchanged with 1,455 untraded and 21 others were suspended.

Turnover stood at 135.72 million shares worth RM42.55 million.

A dealer said the strengthening ringgit was attracting foreign investors to the local bourse.

“As you can see, foreign institutions have returned and become net buyers since last week due to the firmer ringgit,” he said.

Today, the local unit opened higher at 4.1830/1860 against the greenback from yesterday’s close of 4.1925/1955.

Technically, Maybank Investment Banking Research said it expected the FBM KLCI to range between 1,725 and 1,740 today, with downside supports located at between 1,730 and 1,713.

Among heavyweights, Maybank gained three sen to RM9.37, Public Bank added four sen to RM20.50, Sime Darby was two sen better at RM9.05, Petronas Chemicals advanced nine sen to RM7.49 while Tenaga was flat at RM14.82.

Of actives, Hubline and Sumatec perked half-a-sen each to 12 sen and 6.5 sen, respectively, while Berjaya Corporation, Priceworth International and Ho Wah Genting were unchanged at 39.5 sen, 24 sen and 6.5 sen, respectively.

The FBM Emas Index was 8.79 points firmer at 12,544.26, FBMT 100 Index climbed 8.43 points to 12,182.38, FBM Emas Shariah Index perked 2.97 points to 12,990.27, the FBM 70 edged up 0.08 of-a-point to 15,551.30 and the FBM Ace gained 12.02 points to 6,690.73.

Sectorwise, the Finance Index improved 10.11 points to 16,254.07, the Industrial Index was 0.56 of-a- point better at 3,176.31 but the Plantation Index was 7.06 points easier at 7,902.76. — Bernama

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