KL Shares Open Lower But Rises Later

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KUALA LUMPUR, Nov 7 – The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) edged up this morning on selective trading as traders remained on the sidelines, a dealer said. At 9.30am, the key index stood at 1,832.22, up 0.24 of a point, after opening lower at 1,827.76. On the broader market, market breadth was slightly positive with gainers outpacing decliners 220 to 130 while 214 counters were unchanged, 1,098 untraded and 19 others were suspended.

“Bank Negara Malaysia’s Monetary Policy Committee meeting yesterday kept the overnight policy rate unchanged. “Market may now turns to September export data due later today,” a dealer said. On the scoreboard, the FBM Emas Index added 0.95 of-a-point to 12,730.12, the FBMT100 Index dipped 3.59 points to 12,368.79 while the FBM Emas Syariah Index trimmed 18.70 points to 13,183.43.

The FBM 70 lost 23.99 points to 13,989.22 while the FBM Ace appreciated 70.23 points to 6,723.24. Sector-wise, the finance index rose 19.47 points to 16,658.55, the industrial index declined 5.52 points to 3,277.68 and the plantation index dipped 34.87 points to 8,463.81. Among heavyweights, Maybank added three sen to RM9.68, Tenaga Nasional and Public Bank gained four sen each, to RM13.06 and RM18.38, respectively, while Axiata advanced two sen to RM7.01. Actively traded stocks this morning included Compugates Holdings, Digistar Corporation, K-One Technology and its warrants (B).

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