Malaysia: Bursa Malaysia rebounded from last week’s losses to open higher on fresh buying support today, while tracking the positive performance of Wall Street last Friday, dealers said.
At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 7.47 points higher at 1,827.29, after opening 5.61 points better at 1,825.43.
Gainers led losers 212 to 48, while 129 counters were unchanged, 1,468 untraded and 31 others suspended.
Turnover stood at 89.46 million shares worth RM29.53 million.
A dealer said the FBM KLCI might move into correction mode this week on growing concerns over US interest rate hikes, as well as the expectation of rising of bond yields, which resulted in Wall Street entering into a correction.
"On the local front, the FBM KLCI could trend higher around 1,840 on the back of positive sentiment from the US stock markets. Traders may still favour stocks with defensive attributes such as consumer and REITs under this cautious environment," he added.
The Industrial Index rose 11.62 points to 3,232.98 and the Finance Index jumped 76.18 points to 17,532.65 and the Plantation Index added 7.43 points to 7,953.46.
The FBM Emas Index increased 49.49 points to 13,024.55, the FBMT100 Index gained 46.84 points to 12,748.68, the FBM 70 improved 40.91 points to 15,989.68, while the FBM Ace advanced 42.69 points to 6,131.01.
For the heavyweights, Maybank rose two sen to RM10.04, Tenaga expanded 12 sen to RM15.84, Public Bank added 16 sen to RM21.96 and CIMB increased nine sen to RM6.95.
Among actives, PUC and AirAsia X gained one sen each to 24 sen and 40 sen respectively, P.A Resources, Diversified Gateway and UMW OIL rose half-a-sen each to 8.5 sen, nine sen and 31 sen respectively.
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