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FBM KLCI open higher in early trade
by hlk Mon 30 Jul 2012, 10:09
KUALA LUMPUR: Share prices on Bursa Malaysia opened higher today, tracking the firmer regional markets and Wall Street's surge on Friday's closing, dealers said.
The underlying FTSE Bursa Malaysia KLCI opened 1.92 points higher at 1,626.86 after closing at 1,624.94 last week.
HwangDBS Vickers Research said there was a powerful surge on Wall Street on Friday that saw major US equity indices rising between 1.5 per cent and 2.2 per cent at the closing bell, lifted by hopes that the policymakers in the US and Europe would act to boost their economies.
"The positive vibes may spill on to our local bourse today," it said.
On the chart, the benchmark FBM KLCI could recover towards the immediate resistance line of 1,635, it said in a research note today.
Among stocks that will likely ride on the technical rebound today include beaten-down index constituents such as Maxis, MMC Corporation and AirAsia.
Bursa Malaysia's Finance Index rose 19.160 points to 14,674.2, the Plantation Index gained 1.170 points to 8,718.2, while the Industrial Index added 7.890 points to 2,862.4.
The FTSE Bursa Malaysia Emas Index added 14.8 points to 11,133.62, the Malaysia Mid 70 Index advanced 21.340 points to 12,240.18, but the FTSE Bursa Malaysia Ace Index eased 1.12 points to 4,344.63.
Gainers outpaced losers 43 to 10 while 39 counters were unchanged.
A total of 3.02 million shares worth RM3.48 million were traded.
Among active stocks, Biosis-Wa rose 4.5 sen to 20 sen, Emico earned one sen to 20 sen and Biosis added 5.5 sen to 39.5 sen.
Heavyweights, Maybank shed three sen to RM8.72, Sime Darby rose six sen to RM9.88 and CIMB gained three sen at RM7.84. -- BERNAMA
The underlying FTSE Bursa Malaysia KLCI opened 1.92 points higher at 1,626.86 after closing at 1,624.94 last week.
HwangDBS Vickers Research said there was a powerful surge on Wall Street on Friday that saw major US equity indices rising between 1.5 per cent and 2.2 per cent at the closing bell, lifted by hopes that the policymakers in the US and Europe would act to boost their economies.
"The positive vibes may spill on to our local bourse today," it said.
On the chart, the benchmark FBM KLCI could recover towards the immediate resistance line of 1,635, it said in a research note today.
Among stocks that will likely ride on the technical rebound today include beaten-down index constituents such as Maxis, MMC Corporation and AirAsia.
Bursa Malaysia's Finance Index rose 19.160 points to 14,674.2, the Plantation Index gained 1.170 points to 8,718.2, while the Industrial Index added 7.890 points to 2,862.4.
The FTSE Bursa Malaysia Emas Index added 14.8 points to 11,133.62, the Malaysia Mid 70 Index advanced 21.340 points to 12,240.18, but the FTSE Bursa Malaysia Ace Index eased 1.12 points to 4,344.63.
Gainers outpaced losers 43 to 10 while 39 counters were unchanged.
A total of 3.02 million shares worth RM3.48 million were traded.
Among active stocks, Biosis-Wa rose 4.5 sen to 20 sen, Emico earned one sen to 20 sen and Biosis added 5.5 sen to 39.5 sen.
Heavyweights, Maybank shed three sen to RM8.72, Sime Darby rose six sen to RM9.88 and CIMB gained three sen at RM7.84. -- BERNAMA
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