Bursa Malaysia slightly higher at opening

KUALA LUMPUR: Bursa Malaysia opened slightly higher at opening today on mild buying support for the local counters.

At 9.16am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.80 of-a-point better at 1,686.90 from Wednesday’s close of 1,686.82.

The index opened 4.49 points weaker at 1,682.33.

On the broader market, gainers led losers 180 to 155, while 227 counters remained unchanged, 1,316 untraded and 20 others suspended.

Turnover stood at 308.56 million shares worth RM197.78 million.

A dealer said some of the Asian stocks including the local bourse were lifted in line with China’s Shanghai Composite index.

“However I would say overall the market is still cautious as investors are closely monitoring the 10-day National People’s Congress meeting, which commenced on Tuesday (March 5).

“This meeting, gathered by almost 3,000 representatives, would likely discuss details on the country’s economic growth target and also the new law on foreign investment. Whatever that is discussed and finalised during the meeting would likely affect the global market,” he said.

Among heavyweights, Maybank rose two sen to RM9.56, Petronas Chemicals added six sen to RM9.36, Public Bank and CIMB fell two sen each to RM24.50 and RM5.50.

Of actives, Prestariang gained six sen to 50 sen, My EG edged up three sen to RM1.22, Jake Resources improved half-a-sen to 70.5 sen while Dynaciate was half-a-sen weaker at 9.5 sen.

The FBM Emas Index fell 1.43 points to 11,769.93, the FBMT 100 lost 0.07 of-a-point to 11,625.04

and the FBM 70 decreased 2.6 points to 14,147.54.

The FBM Ace Index advanced 4.2 points to 4,725.09 and the FBM Emas Shariah Index went up 4.03 points to 11,767.30.

Sector-wise, the Financial Services Index was 2.84 points easier at 17,554.52, the Plantation Index erased 14.23 points to 7,302.78 but the Industrial Products and Services Index was 0.76 of-a-point better at 170.37.