Exchange Opens Green After Long Holiday

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 At 9am the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was up 9.67 points at 1,610.10 from Friday's close of 1,600.43.


The index opened strong 13.91 points at 1,614.34.


It opened higher after a holiday in conjunction with the Aidilfitri celebrations as a result of positive market sentiment following the Federal Reserve's move to raise interest rates by 50 basis points, meeting expectations.


On the broader market, investors saw gainers at 278 outpacing losers at 123, while 257 counters were unchanged, 1,580 untraded and 16 suspended.


Total turnover at 201.45 million units worth RM112.16 million.



Rakuten Trade Sdn Bhd's vice president of equity research, Thong Pak Leng, expects the KLCI to see continued buying activity but there will be resistance around the 1,605-1,610 level due to Wall Street's overnight performance.


So he predicts the index may be at the level of 1,590-1,605 in today's trading session.


Heavyweights saw Malayan Banking Bhd (Maybank) gain 2 sen at RM9.09, Public Bank Bhd added 4 sen at RM4.73, Petronas Chemicals Group Bhd rose 56 sen at RM10.78 and CIMB Group Holdings Bhd jumped 6 sen at RM5 .26 while IHH Healthcare Bhd lost 6 sen at RM6.55.


Active stocks saw PUC Bhd and Bina Puri Holdings Bhd remain at 7.5 sen and 5 sen, Hibiscus Petroleum Bhd rose 4 sen at RM1.31 and Dynaciate Group Bhd advanced 0.5 sen at 14.5 sen while MN Holdings Bhd declined 0.5 sen at 24 sen.


On the index board, FBM ACE peaked 3.43 points at 5,582.10, FBM 70 jumped 50.31 points at 13,822.49, FBM Emas index expanded 63.43 points at 11,529.52, FBMT 100 index collected 61.00 points at 11,181.50 and FBM Emas Shariah index reached 65.29 points at 12,087.57 points.


In terms of sector, the Financial Services index expanded 77.93 points at 17,004.73, the Products and Services Industry index rose 3.74 points at 213.77 and the Plantation index grew 33.43 points at 8,854.44.

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