KUALA LUMPUR, July 10 (NNN-Bernama) — Bursa Malaysia, the stock exchange of Malaysia, opened marginally lower but rebounded thereafter, driven by renewed buying interest due to lower prices amid cautious local market sentiment, a dealer said.
At 9.17 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.81 points to 1,381.48 from 1,377.67 at Friday’s close.
The key index opened 0.11 of-a-point lower at 1,377.56.
The broader market was also positive as advancers beat decliners 185 to 165, while 291 counters were unchanged, 1,618 untraded and 26 others suspended.
Turnover stood at 275.21 million units worth RM141.91 million (US$1=RM4.66).
In a note Monday, Malacca Securities Sdn Bhd said investors were expected to remain cautious, watching the impending release of Malaysia’s unemployment rate.
“The lower liners may undergo a consolidation after delivering a solid performance last week. While the recovery is still in place, we expect the upside may be limited amid quick profit-taking activities.
“Additionally, we reckon that the focus would shift towards the upcoming barrage of corporate earnings in the US. Commodities wise, the Brent crude oil recovered above US$78 per barrel, while the crude palm oil price slipped towards near RM3,800 per tonne,” it said.
Among heavyweights, Maybank and CIMB were flat at RM8.67 and RM5.16, respectively, Public Bank improved 2.0 sen to RM3.87, IHH Healthcare added one sen to RM5.80, while TNB slipped 1.0 sen to RM9.04.
Of the actives, SkyWorld was flat at 80 sen, MyEG went up 3.5 sen to 75 sen, while Sarawak Consolidated eased half-a-sen to 46 sen, and RGB International shed 1.0 sen to 37 sen.
On the index board, the FBM Emas Index gained 26.01 points to 10,192.49, the FBMT 100 Index was 26.75 points better at 9,887.07, the FBM ACE Index edged up 9.0 points to 5,148.87, the FBM 70 Index perked up 34.27 points to 13,479.96, and the FBM Emas Shariah Index increased 28.72 points to 10,459.90.
Sector-wise, the Financial Services Index garnered 34.42 points to 15,441.91, the Energy Index rose 10.27 points to 802.47, the Plantation Index climbed 11.03 points to 6,813.96, and the Industrial Products and Services Index slid 0.09 of-a-point to 158.16.
— NNN-BERNAMA