Bursa Malaysia opens higher

The Bursa Malaysia signage is displayed in this illustration photo. (Bloomberg pic)

KUALA LUMPUR: Bursa Malaysia opened higher today in line with most regional peers, despite the mixed overnight trade on Wall Street, dealers said.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.42 points better at 1,801.53 from Tuesday’s close of 1,798.11.

The index opened 3.49 points firmer at 1,801.60.

Bursa Malaysia and its subsidiaries were closed yesterday for the Hari Raya Aidiladha celebration.

On the broader market, gainers led losers 169 to 83 with 173 counters unchanged, 1,473 untraded and 43 others suspended.

Volume stood at 108.51 million units valued at RM60.89 million.

A dealer said the better Bursa Malaysia performance today came as investors anticipate the US-China trade talks to bring about a positive direction for global trade.

Kenanga Research in a note today said the FBM KLCI is expected to trend higher towards the resistance levels of 1,830 and 1,870, while supports can be identified at between 1,750 and 1,720.

Among heavyweights, Maybank eased four sen to RM9.78, while Public Bank rose six sen to RM24.74, TNB increased two sen to RM15.76 and Petronas Chemicals bagged four sen to RM9.42.

CIMB was flat at RM5.89.

Of actives, Sapura Energy added 1.5 sen to 60.5 sen, MY EG, Asia Knight and Velesto perked one sen each to RM1.32, 18 sen and 29 sen respectively.

Borneo Oil and Nova MSC were flat at six sen and 18 sen.

Among the biggest gainers in early trading were Panasonic which jumped RM1.04 to RM41.90, followed by Petronas Dagangan in having bagged 40 sen to RM27.04, PPB which firmed 20 sen to RM16.96 and Petronas Gas being 18 sen higher at RM19.18.

The FBM Emas Index was 21.52 points higher at 12,721.67, the FBMT 100 Index increased 20.53 points to 12,500.05 and the FBM 70 bagged 13.47 points to 15,465.58.

The FBM Emas Shariah Index advanced 33.27 points to 12,912.68 and the FBM Ace Index rose 4.77 points to 5,552.69.

Sector-wise, the Finance Index fell 6.18 points to 17,481.48, the Industrial Index increased 11.27 points to 3,276.95 and the Plantation Index perked 26.48 points to 7,629.88.