Bursa Malaysia opens on positive note

The interior of Bursa Malaysia. (Reuters pic)

KUALA LUMPUR: Bursa Malaysia opened on a positive note today in taking cue from the rise in stocks in the United States and Europe last Friday.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.66-of-a- point better at 1,780.75 from Friday’s close of 1,780.09.

The index opened 1.67 points firmer at 1,781.76.

On the broader market, gainers led losers 132 to 73 with 188 unchanged, 1,501 untraded and 31 others suspended.

Volume stood at 103.17 million units valued at RM43.96 million.

In a note today, Public Investment Bank Bhd (PIVB) said the local bourse was tracking the positive performance of both US and European stock markets following the fall in US Treasury yields at the end of last week, dominated by mounting concerns over US-China trade tensions, as well as a series of central bank meetings across the globe.

Meanwhile, another dealer said the recent appointments of Datuk Shahril Ridza Ridzuan as Khazanah Nasional Bhd’s Managing Director, as well as Tunku Alizakri Alias as the Employees Provident Fund’s Chief Executive Officer, had boosted confidence in the local bourse.

He said, at the same time, the higher June producer price index for local production, alongside the reintroduction of the Sales Tax Bill and the Services Tax Bill 2018 on Sept 1, which could return more money to the people, also helped lift investor sentiment.

Of the heavyweights, Public Bank and Petronas Chemicals added four sen each to RM24.20 and RM9.07 respectively, while Maybank fell one sen to RM9.82.

Tenaga, CIMB and IHH Healthcare were unchanged at RM15.42, RM5.79 and RM5.90.

Among actives, Pegasus Heights and Vizione were flat at three sen and 13.5 sen respectively, while Frontken increased 2.5 sen to 58.5 sen, Borneo Oil inched up half-a-sen to six sen and KPS was two sen higher at RM1.92.

Of the top gainers, MAHB improved 18 sen to RM9.98, BP Plastics perked 14 sen to RM1.16, SLP was nine sen better at RM1.21, while UMW and Serba Dinamil gained seven sen each to RM6.05 and RM3.95, respectively.

The FBM Emas Index was 2.53 points higher at 12,603.02 and the FBMT 100 Index added 0.81 of-a-point to 12,388.46.

The FBM Emas Shariah Index declined 1.01 points to 12,743.45, the FBM 70 lost 12.95 points to 15,449.42 and the FBM Ace Index slid 13.88 points to 5,432.16.

Sector-wise, the Plantation Index rose 20 points to 7,643.39, but the Finance Index slipped 6.85 points to 17,433.61 and the Industrial Index was down 9.52 points at 3,266.60.