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Positive Sentiment Lift Bursa Higher In Early Trade

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KUALA LUMPUR – Bursa Malaysia opened higher in, early trade, today as last week’s positive sentiment continued to boost investor risk appetite, dealers said.

At 9.02am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.94 of-a-point higher at 1,775.47 against Friday’s close of 1,774.53.

The benchmark index opened 0.99 of a point better at 1,775.52.

Despite the stronger dollar coupled with positive Wall Street performance on Friday, the overall market breadth of Bursa Malaysia was positive with gainers thumping losers 143 to 48, with 151 counters unchanged, 1,492 untraded and 22 others were suspended.

Turnover stood at 46.55 million shares worth RM20.89 million.

“The strong export growth in June strengthened the country’s fundamentals and investors confidence towards thes economy,” a dealer said.

Malaysia’s export growth continued to outpace import with June’s trade surplus at RM9.88 billion, marking the 236th consecutive month of trade surplus since November 1997 and the highest surplus since April 2016.

Exports expanded 10 per cent to RM73.07 billion while imports grew 3.7 per cent to RM63.19 billion.

Of heavyweights, Tenaga rose four sen to RM14.20, CIMB added two sen to RM6.64, Petronas Chemicals increased six sen to RM7.07, while Maybank, Public Bank and Sime Darby were all flat at RM9.65, RM20.48 and RM9.40, respectively.

Among active counters, both Sterling Progress and Borneo Oil inched down half-a-sen each to 16 sen and 10 sen, respectively. Malakoff gained four sen to RM1.06 while Hibiscus and Jag added half-a-sen each to 41 sen and 15 sen respectively.

The FBM Emas Index expanded 10.21 points to 12,630.08, the FBMT 100 Index perked 9.6 points to 12,277.79, the FBM Ace rose 19.49 points to 6,595.9, the FBM 70 soared 23.49 points to 14,980.24 and the FBM Emas Shariah Index improved 26.03 points to 12,770.04.

Sector-wise, the Finance Index fell 18.95 points to 16,803.9, the Plantation Index bagged 18.19 points to 7,868.97 and the Industrial Index gained 6.71 points to 3,272.04. -BERNAMA

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