Bursa Malaysia opens higher on improved market sentiment

At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,844.56, up 4.94 points from 1,839.62 at yesterday's close. — Picture by Azneal Ishak
At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,844.56, up 4.94 points from 1,839.62 at yesterday's close. — Picture by Azneal Ishak

KUALA LUMPUR, March 9 ― Shares on Bursa Malaysia opened higher this morning, with market sentiment lifted by overnight gains in Asian equities and strong China trade data.

At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,844.56, up 4.94 points from 1,839.62 at yesterday's close.

The key index opened 2.48 points better at 1,842.1 this morning.

A dealer said local traders found solace after China’s exports registered stronger-than-expected growth in February, signalling that both its economy and global growth remained resilient, even as trade relations with the United States deteriorates.

Meanwhile, Kenanga Research, in a note, said 1,840 represents a crucial resistance level, where a decisive break-through could see the index on a higher note towards 1,883.

Market breadth was positive with 224 gainers against 98 losers, while 192 counters were unchanged, 1,362 untraded and 21 others suspended.

Turnover stood at 237.55 million shares worth RM73.57 million.

Among heavyweights, Maybank was flat at RM10.46, Public Bank added eight sen to RM23.08, while Tenaga and CIMB rose two sen each to RM15.62 and RM7.15.

On the actives, SKH Consortium added half-a-sen to 10 sen, Tiger Synergy was unchanged at 3.5 sen and KUB Malaysia gained three sen to 53 sen.

Meanwhile, Nova Pharma made its debut on Bursa Malaysia's LEAP Market today at 24 sen, a premium of four sen over its offer price of 20 sen with 1,000 shares traded.

The FBM Emas Index rose 39.5 points to 12,973.29, the FBMT 100 Index was 39.21 points better at 12,714.19 and the FBM Emas Shariah Index gained 41.15 points to 13,132.67.

The FBM 70 increased 65.25 points to 15,422.15 and the FBM Ace was 64.02 points higher at 6,014.73.

Sector-wise, the Finance Index inched up 35.05 points to 18,045.71, the Industrial Index increased 6.88 points to 3,177.31 and the Plantation Index gained 26.11 points to 8,059.99. ― Bernama

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