Malaysian Stock Market Higher In Early Trade

KUALA LUMPUR, Dec 13 (Bernama) -- The Malaysian stock market (Bursa Malaysia) extended gains from Wednesday to open higher Thursday morning, lifted up by positive sentiment globally and amid hopes of progress in US-China trade relations, dealers said. At 9.03 am, the key FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.48 points to 1,671.75 from yesterday's close of 1,663.27. The index opened 7.84 points better at 1,671.11. Market breadth was positive as gainers led decliners 122 to 45, with 109 counters unchanged, 1,638 untraded and 38 others suspended. Volume stood at 57.22 million units valued at RM28.19 million. Public Investment Bank Bhd had earlier projected the FBM KLCI to open higher today after global equities took cue from positive developments on the US-China trade front, as President Donald Trump delivered some upbeat comments about the prospects for a deal. But, once again, Wall Street pared an early advance in late trading, with the S&P 500 ending 0.5 per cent higher at 2,651, after earlier hitting 2,685, above the level at which it ended 2017. On Bursa Malaysia, Maybank improved five sen to RM9.34, Public Bank rose four sen to RM29.94, Tenaga and CIMB gained two sen each to RM13.50 and RM5.77, while Petronas Chemicals bagged three sen to RM9.20. Among actives, MyEG edged up 6.5 sen to 90.5 sen, Tatt Giap perked 2.5 sen to 25 sen, Sino Hua-An inched up half-a-sen to 16.5 sen, while Hubline was flat at four sen. The FBM Emas Shariah Index was 52.01 points higher at 11,458.62, the FBM 70 earned 38.91 points to 13,245.2, the FBM Emas Index rose 47.89 points to 11,483.75 and the FBMT 100 Index increased 48.54 points to 11,375.43. However, the FBM Ace Index slipped 11.18 points to 4,521.57. Sector-wise, the Plantation Index bagged 25.92 points at 6,686.4, the Industrial Products and Services Index added 0.42 of-a-point to 167.61, and the Financial Services Index chalked up 75.47 points to 17,365.16. -- BERNAMA