BURSA MALAYSIA: Bursa Malaysia Opens Higher In Line With Asian Bourses

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KUALA LUMPUR, April 20 – Bursa Malaysia opened higher Wednesday as the strong performances of the Asian bourses sparked optimism among investors here. At 9 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.21 points better at 1,713.36 from yesterday’s close of 1,711.15.

Market breadth was positive with gainers outpacing losers by 98 to 63, with 144 counters unchanged, 1,419 untraded and eight others were suspended. Turnover amounted to 65.87 million shares worth RM30.58 million. A dealer said waning concerns over China’s economy had improved buying sentiment in the region.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4 per cent while Japan’s Nikkei rose 1.1 per cent. On Wall Street, the Dow Jones Industrial Average improved 0.27 per cent, while the S&P 500 rose 0.31 per cent. On the local front, Petronas Gas emerged as the top gainer in the early session, with its shares up 40 sen to RM22.28, Hong Leong Industries added 26 sen to RM7.10 and Public Bank rose eight sen to RM19.08.

Maybank was flat at RM9.08, TNB increased six sen to RM14.46 and IHH rose climbed three sen to RM6.70. Among the actives, AirAsia X rose a sen to 36 sen, AirAsia increased five sen to RM2.17 and Vivokom and Luster added half-a-sen each to 31 sen and seven sen, respectively.

On the scoreboard, the FBM Emas Index was 10.18 points weaker at 11,899.18 and the FBM Emas Shariah Index fell 1.15 points to 12,453.22. The FBMT100 Index increased 9.21 points to 11,593.08. The FBM Ace increased 19.26 points to 5,689.6. The FBM 70 was 14.76 points weaker at 13,203.29. On a sectoral basis, the Finance Index was 38.17 points higher at 14,875.55 and the Industrial Index gained 6.57 points to 3,280.97. The Plantation Index declined 20.95 points to 7,734.41.

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