Bursa Malaysia opens higher

Bursa Malaysia opened higher as United States President Donald Trump may ease restrictions against Huawei for trade sake.

KUALA LUMPUR: Bursa Malaysia opened higher this morning as fears of US-Sino trade war receded following reports that President Donald Trump may ease restrictions against Huawei Technologies as part of a bigger trade deal with Beijing.

At 9.05 am, the key FTSE Bursa Malaysia KLCI (FBM KLCI), gained 3.26 points to 1,601.58 after opening 6.12 points better at 1,604.44.

The index ended 3.55 points easier last Friday at 1,598.32 but it was the smallest decliner in comparison with other major bourses worldwide last week.

Gainers led losers at 123 to 71, with 128 counters unchanged, 1,620 untraded and 24 others suspended.

Turnover stood at 87.32 million worth RM39.36 million.

A dealer said the latest update on the trade rift between the US and China had relieved investors off their tenterhooks.

Among heavyweights, Maybank was flat at RM8.99, PBBank added eight sen to RM22.60, Tenaga rose four sen to RM11.58 and CIMB gained two sen to RM5.17.

Of the actively-traded stocks, VC added 1.5 sen to 26.5 sen, LHI rose two sen to RM1.06, while Sapnrg and KNM were both flat at 29 sen and 20 sen, respectively.

The FBM Emas Index was up 23.53 points to 11,211.45, the FBMT 100 Index increased 23.79 points to 11,065.60 and the FBM Emas Shariah Index up 16.40 points to 11,331.90

The FBM 70 went up 34.54 points to 13,584.07 and the FBM Ace added 6.93 points to 4,295.93.

Sector-wise, the Financial Services Index improved 41.79 points to 16,576.34, the Plantation Index advanced 13.93 points at 6,831.02 but the Industrial Products & Services Index was 0.71 of-a-point lower at 161.30.