KUALA LUMPUR, July 18 — Bursa Malaysia opened lower but picked up momentum thereafter as investor interest returned to the market, a dealer said.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,756.57 points, up 1.38 points from Monday’s close of 1,755.19.
The key index opened 2.95 points lower at 1,758.14.
Gainers led losers 136 to 86 while 174 counters remained unchanged with 1,396 untraded and 23 others were suspended.
Trading was active with turnover amounting to 100.04 million shares worth RM33.57 million.
In a note today, Maybank IB Research said the current downturn seemed to have exhausted.
“In short, we expect a bullish reversal soon pending the emergence of fresh buying interest. On the flip side, if the 1,748 support gives way, the current correction could head towards the 1,729,” it added.
Among heavyweights, Public Bank and PChem both rose two sen each to RM20.38 and RM6.91, respectively, Sime Darby added one sen to RM9.54 and CIMB added five sen to RM6.33.
Of actives, UMWOG fell 1.5 sen to 35.5 sen, Hubline added one sen to 6.5 sen, JAG increased half-a-sen to 14 sen and Sterling Progress was flat at 17 sen.
The FBM Emas Index perked 6.63 points to 12,509.47, the FBMT100 Index was 6.85 points better at 12,154.23, the FBM Emas Shariah Index inched up 3.44 points to 12,694.65 and the FBM Ace was 0.46 points better at 6,848.63.
But, the FBM 70 shed 1.79 points to 14,856.39.
Sector-wise, the Plantation Index was 17.15 points weaker at 7,823.89, the Industrial Index rose 4.4 points to 3,277.64 and the Finance Index jumped 32.14 points to 16,674.68. — Bernama