KL shares open higher

KUALA LUMPUR: Shares on Bursa Malaysia rebounded from its earlier losses following Friday's upbeat US stock market performance, dealers said.

At 9.10, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,838.35, up 0.32 points, after opening 2.64 points lower at 1,835.39.

HwangDBS Vickers Research said Wall Street extended its rally following the US Federal Reserve's surprise decision to start the tapering process in January.

US major equity barometers were up between 0.3 per cent and 1.1 per cent to close at a new record high on Friday.

On the local front, the research house said the benchmark FBM KLCI could be testing the immediate support-turned-resistance threshold of 1,840, possibly making its way towards its all-time peak of 1,851.94, ahead.

On the scoreboard, the Finance Index lost 2.49 points to 16,835.66, the Industrial Index fell 22.74 points to 3,123.56 and the Plantation Index declined 10.771 points to 8,822.84.

The FBM Emas Index perked 2.02 points to 12,680 but the FBMT100 Index dropped 1.43 points to 12,416.03, the FBM Ace eased 11.88 points to 5,629.3 and FBM 70 lost 22.75 points to 14,058.06.

Gainers led losers 108 to 72 while 125 counters were unchanged, 1,254 untraded, and 18 others were suspended.

Turnover stood at 73.2 million shares worth RM38.99 million. Among actives, Kanger International added 9.5 sen to 34.5 sen and MMS Ventures earned half-a-sen to 21 sen.

Tiger Synergy lost two sen to 14.5 sen while The MEdia Shoppe and Daya Materials was unchanged at seven sen and 38.5 sen.

Of heavyweights, Tenaga perked 16 sen to RM10.98, CIMB earned two sen to RM7.62 and Axiata gained three sen to RM6.80.

Maybank and Sime Darby were both unchanged at RM10.02 and RM9.34, respectively. -- Bernama