Business

Share prices open firmer in early trade

KUALA LUMPUR, Feb 4 – After a long-weekend, share prices on Bursa Malaysia opened firmer, in early trade, supported by gains in major bluechips, dealers said.

After 27 minutes of trading, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,637.37, up 9.82 points, after opening 6.99 points better at 1,63454.

HwangDBS Vickers Research said it remained to be seen whether the Malaysian bourse will play catch-up with its regional peers today.

“Overseas equities were mostly up when our local stock exchange was closed last Friday, led by Thailand (+1.7 per cent), the Philippine (+1.2 per cent) and China (+0.7 per cent),” it said in a note.

Meanwhile, over on Wall Street, its bellwethers jumped between 1.0 per cent and 1.2 per cent on the back of a better labour report and corporate earnings outlook.

“Our technical take is that the key FBM KLCI will probably lag its peers’ performance where the benchmark index could swing with a negative bias, possibly retreating towards the psychological mark of 1,600 points ahead,” it added.

Back home, the Finance Index surged 102.48 points to 14,948.90, the Industrial Index earned 70.22 points to 2,813.38 and the Plantation Index added 12.04 points to 8,012.48.   

The FBM Emas Index gained 58.35 points to 11,125.93, the FBMT100 increased 58.66 points to 10,979.92, the FBM Mid 70 Index added 31.329 points to 12,085.81 and the FBM Ace Index was 6.05 points higher at 4,120.86. 

Gainers led losers 160 to 105 with 153 counters unchanged, 1,230 untraded and 23 others were suspended.

Volume stood at 111.640 million shares worth RM144.141 million.

Among actives, Tiger Synergy rose two sen to 34 sen, Pasukhas earned 1.5 sen to 28 sen and Tiger Synergy-Warr inched up half-a-sen to 22.5 sen.

Heavyweights, Maybank gained 11 sen to RM8.99, Sime Darby increased two sen to RM9.32 while Axiata and CIMB added five sen each to RM6.35 and RM7.26, respectively. – Bernama

 

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