Malaysian Stock Market Opens Higher

KUALA LUMPUR, Nov 7 (Bernama) -- The Malaysian stock market (Bursa Malaysia) opened higher Tuesday, taking the cue from the overnight strong performance on Wall Street. At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.50 of-a-point higher at 1,742.79 from Monday's close of 1,742.29. The key index opened 0.40 of-a-point better at 1,742.69. On the broader market, gainers were higher at 147 against 75 losers while 186 counters remained unchanged with 1,407 untraded and 19 others were suspended. Turnover stood at 127.64 million shares worth RM48.61 million. AllianceDBS Research said the analysis of overall local market action on Monday revealed that buying power was weaker than selling pressure. As such, the FBM KLCI would likely trade below the 1,741.43 points level for today, it said in a note. Of heavyweights, Maybank and Tenaga gained two sen each to RM9.27 and RM14.84, respectively, PBBank erased two sen to RM20.46, CIMB decreased one sen to RM6.20 and Axiata was flat at RM5.44. Among active counters, ATTA inched up one sen to 1.5 sen, JAG added half-a-sen to 14.5 sen, Hibiscus increased 1.5 sen to 74 sen and EA Holdings was flat at 4.5 sen. The FBM Emas Index added 9.13 points to 12,593.94, FBMT 100 Index was 7.31 points higher at 12,226.80, FBM 70 increased 23.48 points to 15,575.85, FBM Emas Shariah Index rose 9.65 points to 13,062.45 but the FBM Ace eased 3.22 points to 6,833.22. Sector-wise, the Finance Index increased 23.29 points to 16,311.70 and Industrial Index inched up 0.43 of-a-point to 3,177.42 and the Plantation Index was 19.03 points lower at 8,049.84. -- BERNAMA