Bursa opens higher

KUALA LUMPUR: Shares on Bursa Malaysia were higher in the early session today in line with a stronger Wall Street performance last Friday.

At 9.20am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,721.54, up 0.12 of-a-point from Friday’s close of 1,721.42.

The index opened 0.92 of-a-point higher at 1,722.34.

JF Apex Research said the FBM KLCI could climb towards its resistance level of 1740 points following the bullish performance in the US and Europe.

“The US markets rose on Friday following optimism from the fresh round of the US-China trade talks. Earlier, European shares advanced as leaders of the US and China meet,” it said in a note today.

On the broader market, gainers led 223 to 166, while 229 counters were unchanged, 1,247 untraded and 34 others suspended.

Turnover stood at 390.51 million shares worth RM221.36 million.

Among local heavyweights, Petronas Chemicals and Hong Leong Bank rose eight sen each to RM9.11 and RM21.30, respectively, while Maybank, TNB, CIMB and Maxis were flat at RM9.54, RM13.44, RM5.84 and RM5.51.

Public Bank shed two sen to RM24.96, IHH Healthcare eased one sen to RM5.79 and Axiata slipped 14 sen to RM4.11.

Of actives, Dayang Enterprise jumped 19.5 sen to 99 sen, Perdana Petroleum gained four sen to 33 sen, Sapura Energy added one sen to 32.5 sen, Bumi Armada edged up half-a-sen to 20.5 sen and Naim Holdings advanced 10.5 sen to 85 sen.

The FBM Emas Index decreased 18.16 points to 11,984.34, the FBM Emas Shariah Index went down 35.50 points to 11,917.61 and the FBMT 100 fell 19.94 points to 11,838.94.

The FBM Ace Index increased 19.52 points to 4,735.0 but the FBM 70 slid 109.73 points to 14,305.73.

Sector-wise, the Financial Services Index was up 12.76 points at 17,853.48, the Plantation Index depreciated by 12.41 points to 7,400.69 and the Industrial Products and Services Index was 0.86 of-a-point higher at 168.89.