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Thursday, 25 January 2018

Investors will be focusing among heavyweights Maybank, Tenaga and Public Bank has new policy is shaping the US economy.

Malaysia: Shares on Bursa Malaysia were slightly higher at Thursday’s opening on mild buying support.
At 9.03 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,837.31, up by 0.27 of-a-point from Wednesday's close of 1,837.04.
It opened 0.49 of-a-point easier at 1,836.55.Gainers beat losers 121 to 73, while 198 counters were unchanged, 1,477 untraded and 31 others suspended.
Turnover stood at 229.55 million shares worth RM123.87 million.
A dealer said Bursa Malaysia was lifted by some buying in local stocks in line with the positive overnight performance of US Wall Street as it welcomed Jerome Powell as the new Federal Reserve (Fed) Chair.
Powell, the first non-economist to be appointed to the post in the last 40 years, will helm the Fed effective Feb 4.
He replaces Janet Yellen, who served for only one term, and happens to be the first woman to occupy the chair.
“Investors will be focusing on Powell's new policy in shaping the US economy, which perhaps could provide some new leads for global stock markets,” the dealer said.
Among heavyweights, Maybank, Tenaga and Public Bank were flat at RM9.91, RM15.84 and RM20.96 respectively, while CIMB was one sen lower at RM6.94.
Of the actives, PA Resources rose one sen to 12.5 sen, Genting Malaysia rose five sen to RM5.63, while Sumatec Resources and Daya Materials were flat at 10.5 sen and nine sen respectively.
The FBM Emas Index added 1.90 points to 13,287.69, the FBMT 100 Index gained 4.67 points to 12,955.53 and the FBM 70 was up 8.89 points to 16,706.01.
The FBM Emas Shariah Index improved 2.32 points to 13,694.22, but the FBM Ace was 13.81 points lower at 6,702.30.Sector-wise, the Finance Index fell 6.15 points to 17,386.74 and the Plantation Index inched up 1.92 points to 8,058.08 and the Industrial Index improved 6.68 points to 3,362.36.

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