The firmer US markets would also lend support to the local bourses while tracking the bullish overnight close on Wall Street.

Malaysia: Bursa Malaysia extended yesterday’s gains to open higher today on continued buying interest while tracking the bullish overnight close on Wall Street, dealers said.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,781.02, up 3.89 points, after opening 2.84 points higher at 1,779.97 against Wednesday's close of 1,777.13.

On the broader market, gainers led losers 206 to 76, while 189 counters remained unchanged, with 1,428 untraded and 32 others suspended.

Turnover stood at 168.81 million shares worth RM80.64 million.

The dealers said the key index was in line with gains on Wall Street supported by the overnight comment from European Central Bank (ECB) chief economist Peter Praet that the bank is about to take a key step towards an easy-money exit.

This shows that the ECB remains on track to debate the timetable for ending its asset purchases soon, the dealers added.

Meanwhile, Maybank Investment Bank Bhd said the FBM KLCI could extend its gains as worries over a full-blown trade war dissipate.

"The firmer US markets would also lend support to the local bourses.‘Technically, we expect the FBM KLCI to range between 1,750 and 1,790 today with the downside support at 1,740 and 1,709,” it said in a note today.

The Finance Index perked 59.74 points to 17,866.34, the Industrial Index gained 8.54 points to 3,239.26 while the Plantation Index fell 3.04 points to 7,729.07.

The FBM Emas Index rose 34.37 points to 12,479.37, the FBM Ace Index added 36.75 points to 5,328.32 and the FBM70 was 60.48 points better at 14,896.16.For the heavyweights, Maybank rose nine sen to RM9.68, TNB was four sen higher at RM14.40, CIMB gained five sen to RM6.26 while Public Bank fell eight sen to RM24.92 and Petronas Chemicals was flat at RM8.35.

Among actives, PUC bagged 1.5 sen to 23 sen, Cuscapi gained one sen to 25.5 sen, MyEG increased 3.5 sen to 83.5 sen while Sapura Energy eased half-a-sen to 64.5 sen.

Trading Strategies Malaysia

  

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