BURSA MALAYSIA: KL Shares Open Slightly Higher

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KUALA LUMPUR, May 20 – Share prices on Bursa Malaysia opened slightly higher on Friday morning boosted by mild buying of local stocks. At 9.02 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.73 point better at 1,634.49, after opening 1.07 points higher at 1,634.83.

It closed 1.96 points easier at 1,633.76 on Thursday. Market breadth was positive with gainers outpacing losers 85 to 62 while 1003 counters were unchanged, 575 untraded and 15 others were suspended. Turnover stood at 397.74 million shares worth RM270.08 million.

A dealer said the local bourse has slowly picked, up supported by profit taking ahead of the weekend, in line with regional stock markets. Yesterday, Bank Negara Malaysia decided to maintain the Overnight Policy Rate (OPR) at 3.25 per cent. The central bank last raised the OPR by 25 basis points on July 10, 2014.

Among heavyweights, Maybank rose two sen to RM8.50, TNB and Public Bank were flat at RM13.98 and RM19.10 respectively, while IHH was nine sen higher at RM6.55. Of the actives, Talisworks Corp, Spring Gallery and SKH Consortium were flat at RM1.43, 59 sen and 7.5 sen respectively.

The FBM Emas Index gained 4.17 points to 11,434.53, the FBMT100 Index added 3.33 points to 11,124.75 but the FBM Emas Shariah Index fell 2.82 points to 11,941.04. The FBM 70 eased 1.93 points to 12,908.50 and the FBM Ace was 12.44 points lower at 5,660.90.

Sector-wise, the Finance Index improved 31.06 points to 14,298.25, the Plantation Index inched down 7.24 points to 7,508.86 and the Industrial Index shed 4.68 points to 3,060.91. Yesterday, Bursa Malaysia approved Hwang Capital (M) Bhd’s request for a suspension of trading of its securities for one market day (from 9 am to 5 pm today).

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