Exchanges Bounce Despite Concerns In The Market

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 At 9.06am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.66 points at 1,536.02 from Thursday's close of 1,533.36.


The index opened 1.45 points at 1,534.81.


It opened higher on hunting activity against heavyweights.


On the broader market, investors saw gainers outnumber losers by 161 to 141, while 222 counters were unchanged, 1,749 untraded and 21 suspended.


Total turnover at 162.51 million units worth RM71.65 million.


A note issued by Malacca Securities Sdn Bhd stated that the local bourse's expectations remain volatile with a bearish trend for the near term as Wall Street is still in a pullback phase.



In addition, the firm noted the plantation sector may be a concern ahead of the earnings reporting season.


Heavyweights saw Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd up 2 sen at RM8.32 and RM5.45, Public Bank Bhd added 1 sen at RM4.13, Petronas Chemicals Group Bhd (Petchem) up 4 sen at RM8 .77 and IHH Healthcare Bhd reached 0.5 sen at 28.5 sen.


Active stocks saw BCM Alliance Bhd decline 0.5 sen at 3 sen, Dagang NeXchange Bhd (DNeX) and Cuscapi Bhd remained at 84.5 sen and 36.5 sen while SMTrack Bhd rose 0.5 sen at 28.5 sen.


On the index board, the FBM Emas index rose 17.22 points at 11,176.12, FBM Emas Shariah added 17.22 points at 12,013.12, FBM 70 drove 18.47 points at 14,321.16 and the FBMT 100 index rose 17.67 points at 10,864.1.


While FBM ACE budded 8.95 points at 6,573.03.


The Products and Services Industry Index added 0.45 points at 201.58, the Financial Services index drove 27.72 points at 15,648.93 and the Plantation index gained 5.22 points at 6,608.19.

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