Renewal of Buying Interest Helps the Exchange Open Positively

thecekodok

 At 9am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was up 8.4 points at 1,589.54 from Monday's close of 1,581.14.


The index opened 4.68 points strong at 1,585.82.


It opened higher with renewed buying interest after going through the pressure of a selling session on Monday, in addition to tracking profit gains on Wall Street that closed higher.


On the broader market, investors saw gainers at 284 outpacing losers at 135, while 278 counters were unchanged, 1,574 untraded and 26 suspended.


Total turnover at 262.23 million units worth RM144.03 million.



According to Rakuten Trade Sdn Bhd's vice president of equity research, Thong Pak Leng expects that bargain-hunting activity will emerge in the exchange based on the encouraging performance.


Moreover, he predicts the index will be at the level of 1,575 to 1,590 today.


Heavyweights saw Malayan Banking Bhd add 4 sen at RM8.79, Petronas Chemicals Group Bhd rose 2 sen at RM10.42, IHH Healthcare Bhd reached 7 sen at RM6.47, Public Bank Bhd remained at RM4.63 while Press Metal Aluminum Holdings Bhd lost 5 sen at RM6.49.


Active stocks saw Cengild Medical Bhd up 2 sen at 48.5 sen, South Malaysia Industries Bhd up 1 sen at 33.5 sen, OCR Group Bhd jumped 1.5 sen at 13.5 sen, Vizione Holdings Bhd advanced 0.5 sen at 10 sen and Pappajack Bhd was flat at 54 sen .


On the index board, the FBMT 100 index jumped 62.02 points at 11,067.14, the FBM Emas index strengthened 60.72 points at 11,417.64, the FBM Emas Shariah index added 84.35 points at 12,098.54, the FBM 70 jumped 91.7 points at 13,797.13 and the FBM ACE drove 5,75 40.65 points.


In terms of sectors, the Products and Services Industry index rose 0.14 points at 214.98, the Financial Services index jumped 44.59 points at 16,535.03 and the Plantation index collected 180.67 points at 8,544.03.

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