Bursa Malaysia opens marginally lower but rebounds thereafter
KUALA LUMPUR: Bursa Malaysia opened slightly lower this morning but rebounded thereafter, lifted by buying interest in selected heavyweights and lower liners.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,740.93, up 0.33 of-a-point, from Tuesday's close of 1,740.6.
The key index opened 0.34 of-a-point easier at 1,740.26.
JF Apex Securities said the FBM KLCI, today, could follow the bearish performance in the US as well as European stocks and decline towards its support level of 1,730 points.
"The US markets declined overnight with the Dow Jones Industrial Average trimming 100 points after Goldman Sachs' quarterly profit came in below forecast.
Meanwhile, European stocks also tumbled after British Prime Minister Theresa May called for snap elections," it said in a note today.
On the broader market, gainers led losers 124 to 112 while 205 counters remained unchanged with 1,309 untraded and 16 others were suspended.
Turnover stood at 205.88 million shares worth RM41.48 million.
Of heavyweights, Kuala Lumpur Kepong increased 42 sen to RM24.56, MISC rose six sen to RM7.39, Hong Leong Bank gained 12 sen RM13.82, Petronas Dagangan added 14 sen higher to RM24.22 while Maybank, Public Bank, Sime Darby and Petronas Chemicals were all flat at RM9.04, RM19.92, RM9.22 and RM7.60, respectively.
Among actives, Vivocom edged up half-a-sen to 16 sen, Inix Technologies appreciated two sen to 10 sen, Land & General added one sen to 25 sen and Sumatec Resources was unchanged at seven sen.
On the scoreboard, the FBMT100 Index gained 0.46 of-a-point to 12,037.05, the FBM Ace expanded 13.97 points to 6,131.51, the FBM Emas Index fell 0.73 of-a-point to 12,400.51, the FBM Emas Syariah Index declined 3.99 points to 12,850.890 and the FBM 70 shed 6.40 points to 14,679.69.
Sector-wise, the Plantation Index was 20.23 points higher at 7,991.12, the Industrial Index narrowed 2.22 points to 3,247.64 while the Finance Index rose 16.35 points to 15,706.57.
The physical price of gold as at 9.30am stood at RM176.49 per gramme, up 29 sen from RM176.20 at 5pm yesterday. — Bernama