Bursa opens higher

KUALA LUMPUR: Bursa Malaysia opened higher today on positive demand as US stocks shrugged off a wobbly start to finish higher on Tuesday, with the Dow making a triple-digit climb, a dealer said.

At 9.01am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 17.04 points or 0.95 per cent better at 1,816.21 from last Friday’s close of 1,799.17.

The index opened 11.02 points higher at 1,810.19.

Market breadth was slightly lower as losers led gainers 103 to 95, with 1149 remaining unchanged, 1,536 untraded and 44 others suspended.

Volume stood at 66.18 million units valued at RM92.41 million.

The market resume trading today after two days of public holidays for the King’s Birthday (Monday) and Awal Muharram (Tuesday).

Despite the higher opening numbers, the dealer said trade worries continued to leave investors cautious, while monitoring the ongoing trade conflict between the US and China.

It was reported yesterday that China was making a request to the World Trade Organisation (WTO) to impose sanctions on the US.

This followed US President Donald Trump’s announcement that he was set to slap more tariffs on US$267 billion in Chinese imports.

“We foresee cautious Asian markets in a short term,” the dealer said.

Among heavyweights, Maybank rose eight sen to RM9.97, Public Bank jumped 86 sen to RM25.86 and Tenaga bagged 18 sen to RM15.98, but CIMB Group fell seven sen to RM5.85.

For the actives, Trive Property, Priceworth and Borneo Oil were each flat at two sen, 4.5 sen and 5.5 sen respectively, while Hibiscus Petroleum was one sen better at 0.99 sen.

The FBM Emas Index advanced 75.71 points to 12,638.14, the FBMT 100 Index went up 95.17 points to 12,476.73 and the FBM 70 gained 31.20 points to 14,968.02, as the FBM Emas Shariah Index increased 64.89 points to 12,748.42.But, the FBM Ace Index declined 34.06 points to 5,112.66.

Sector-wise, the Finance Index improved 116.59 points to 17,912.70, the Plantation Index was up 55.54 points at 7,560.37 and the Industrial Index was 7.09 points easier at 3,214.46.