Bursa Malaysia Edges Higher In Early Trade
By Abdul Hamid A Rahman
KUALA LUMPUR, Aug 12 (Bernama) -- Bursa Malaysia opened higher on Wednesday, supported by bargain hunting following yesterday’s losses and renewed buying interest in selected heavyweight counters, although cautious sentiments abound due to Wall Street’s weaker overnight performance.
At 9.05 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched up by 1.19 points to 1,732.65, from Tuesday’s close of 1,731.46.
The benchmark index opened 0.01 of a point higher at 1,731.47.
On the broader market, gainers outpaced losers 162 to 117, while 314 counters were unchanged, 2,194 untraded and 13 suspended.
Turnover stood at 99.51 million shares valued at RM63.27 million.
In a note today, Rakuten Trade Sdn Bhd said Wall Street closed lower amid concerns that efforts to reopen the Strait of Hormuz were faltering.
“As such, Brent crude is racing towards US$90 per barrel again,” it said.
The research house said traders are also waiting for the release of the United States (US) Consumer Price Index (CPI) data later today.
“For today, we expect market consolidation to continue and envisage the FBM KLCI trending within the 1,725-1,735 range,” it added.
Among the heavyweights, Maybank added two sen to RM10.58, while Public Bank slipped one sen to RM5.18, CIMB Group fell two sen to RM7.87, IHH Healthcare eased seven sen to RM8.28 and Tenaga Nasional was flat at RM14.34.
On the most active list, MR DIY Group fell two sen to RM1.50, Hextar Healthcare and Perak Transit were both flat at six sen and 24 sen, respectively, while Kinergy Advancement gained half a sen to 42 sen, and NationGate Holdings added one sen to RM1.51.
Of the top gainers, UMS Integration rose 12 sen to RM7.99, PPB Group increased nine sen to RM9.49, SD Guthrie and AEON Credit both added eight sen to RM6.99 and RM5.74, respectively, while YTL Power International advanced seven sen to RM4.85.
As for the top losers, Nestle fell 80 sen to RM101.80, Malaysian Pacific Industries lost 54 sen to RM47.56, ENRA Group declined 13 sen to 72 sen, Allianz Malaysia slipped eight sen to RM22.02 and UWC eased seven sen to RM6.61.
Among the broader indices, the FBM Emas Index rose 5.69 points to 12,859.92, the FBMT 100 Index gained 4.63 points to 12,671.46, and the FBM ACE Index advanced 8.80 points to 5,178.02, while the FBM Emas Shariah Index fell 1.38 points to 12,702.80 and the FBM 70 Index declined 10.60 points to 18,387.32.
By sector, the Financial Services Index rose 12.71 points to 20,386.92, the Plantation Index gained 44.66 points to 9,528.66 and the Energy Index advanced 1.69 points to 774.91, while the Industrial Products and Services Index eased 0.19 of a point to 187.78.
-- BERNAMA