KL shares open higher for third consecutive day

Bursa Malaysia extends gains at mid-morning in cautious trading ahead of Bank Negara Malaysia’s Monetary Policy Meeting scheduled for later in the day, January 26, 2018. — Picture by Azneal Ishak
Bursa Malaysia extends gains at mid-morning in cautious trading ahead of Bank Negara Malaysia’s Monetary Policy Meeting scheduled for later in the day, January 26, 2018. — Picture by Azneal Ishak

KUALA LUMPUR, Feb 14 — Bursa Malaysia opened higher for the third consecutive day today on continued buying interest and in line with its regional peers, while tracking the bullish overnight close on Wall Street.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.61 points higher at 1,834.63, after opening 2.63 points better at 1,835.65 from yesterday’s close of 1, 833.02.

Gainers led losers 119 to 57, while 134 counters were unchanged, 1,572 untraded and 20 others suspended.

Turnover stood at 40.74 million shares worth RM22.80 million.

A dealer said the US stocks rose overnight as investors awaited the US inflation report for clues on the direction of interest rate hikes.

Regionally, the Singapore’s Straits Times added 0.30 per cent to 3,425.42, while South Korea’s Kospi increased 0.96 per cent to 2,418.25 and Hong Kong’s Hang Seng was flat at 29,839.53.

Back home, another dealer expected light trading today with investors sidelined ahead of the 2017 fourth quarter and full year gross domestic product (GDP) data announcement by Bank Negara Malaysia, this afternoon.

“Investors should wait for any decisive breakout from the 1,840 resistance level which will signal a more determined advance towards 1,888. The downside support levels can be found at 1,800 and 1,767,” he added.

The Finance Index perked 22.85 points to 17,558.51 and the Plantation Index added 0.83 of-a-point to 7,992.04.

The Industrial Index, however, declined 26.48 points to 3,206.38.

The FBM Emas Index gained 5.64 points to 13,055.51, the FBM Ace Index added 10.84 points to 6,121.26 and the FBM70 was 21.58 points lower at 15,952.09.

For the heavyweights, Maybank  and CIMB were flat at RM10.10 and RM6.90 respectively, Tenaga added six sen to RM15.80, as Public Bank and Petronas Chemicals each rose two sen to RM22.04 and RM8.00, respectively.

Among actives, PUC and Airasia X were flat at 24.5 sen and 38.5 sen, Pansar gained three sen to 77 sen, while Globaltec fell half-a-sen to five sen. — Bernama

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