Mild buying lifts Bursa at opening

KUALA LUMPUR: Share prices on Bursa Malaysia were lifted at the opening on mild buying support in line with some of the Asian markets, dealers said.

At 9am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) added 0.88 point to 1,793.34 from 1,792.46 recorded on Monday, after opening 0.27point better at 1,792.73.

On the scoreboard, gainers led losers by 127 to 33, with 152 unchanged, 1,548 untraded and 17 suspended.

Volume stood at 81.31 million units valued at RM24.04 million.

A dealer said the local bourse was in positive territory, probably supported by the higher global oil prices, which was trading at US$84.98 per barrel, up by 2.72%.

“It may go up to US$90 per barrel. But the US-China trade war remains ongoing and the US economy is soaring with the recent interest rate hike and more are expected to come.

“We foresee this would weaken the China economy and also impact the Asian bourses including Bursa Malaysia,” he said.

Of heavyweights, Maybank rose four sen to RM9.75, Public Bank and Tenaga fell two sen each to RM24.98 and RM15.50 respectively, while Petronas Chemicals was flat at RM9.41.

For actives, Borneo Oil stood at six sen, Nova gained half-a-sen to 18 sen, while both Reach Energy and Dagang Nexchange improved one sen to 50.5 sen and 44.5 sen respectively.

The FBM Ace Index fell 38.08 points at 5,377.55, the FBM 70 rose 38.33 points to 14,918.89 and the FBM Emas Shariah Index gained 10.31 points to 12,718.56.

The FBM Emas Index added 7.67 points to 12,544.33 and the FBMT 100 Index was 7.17 points higher at 12,341.86.

Sector-wise, the Financial Services Index lost 1.57 points to 17,759.36 and the Industrial Products and Services Index added 0.70 point to 177.43, while the Plantation Index was 7.26 points better at 7,535.92.