KL shares open firmer

Business Times

KUALA LUMPUR: Share prices on Bursa Malaysia opened firmer this morning on mild buying interest driven by the positive outlook for the local stock market, dealers said.

At 9.11am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.92 points higher at 1,886.83 after opening at 1,885.4.

A dealer said while most technical trend and momentum indicators were registering mixed signals, the fresh buy signal on the daily slow stochastic momentum indicator implied good potential for the FBM KLCI to enjoy an extended rally to record new highs this week.

"Nonetheless, stronger and broader buying momentum to include blue chips, lower liners and small cap stocks will be crucial to support broader investor participation and a sustainable run-up in the medium-term," he said.

On the scoreboard, the Finance Index increased 32.26 points to 17,252.22, the Plantation Index advanced 3.52 points to 9,233.27 but the Industrial Index slipped seven points to 3,243.27.

The FBM Emas Index edged up 12.57 points to 13,105.61, the FBMT100 Index gained 11.04 points to 12,717.33, the FBM Ace advanced 69.51 points to 6,804.88 and the FBM 70 increased 4.98 points to 14,304.

Market breadth was positive as gainers outpaced losers 185 to 93 and 1,145 counters were unchanged including 14 suspended.

Turnover stood at 142.07 million shares worth RM61.76 million.

Among actives, Talam Transform added one sen to 11.5 sen, London Biscuits perked seven sen to 93 sen and Marco Holdings, PUC Founder and Sumatec Resources earned half a sen each to 17 sen, 21 sen and 33 sen, respectively.

Heavyweights, Maybank added one sen to RM9.84, CIMB gained six sen to RM7.23 and Axiata earned three sen to RM6.95.

Public Bank and TNB were both flat at RM19.90 and RM12.46.-- Bernama