Malaysia's Stock Market Opens Higher

KUALA LUMPUR, March 29 (Bernama) -- Malaysia's stock market (Bursa Malaysia) opened higher Wednesday on strong buying support, in line with the regional markets as the rally on Wall Street overnight improved investor sentiment and risk appetite. At 9.13 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,758.97, up 4.55 points from 1,754.42 on Tuesday's close. Earlier, the index opened 3.04 points stronger at 1,757.46. Gainers edged losers by 305 to 68 with 247 counters unchanged, 1,111 untraded and 48 others suspended. Turnover stood at 289.05 million shares worth RM112.89 million. In a note Wednesday, Public Investment Bank Bhd said, the higher opening of the FBMKLCI was buoyed by higher oil prices and participants looked beyond US President Donald Trump's administration's setback on healthcare reforms. The benchmark Brent crude was traded 0.19 per cent higher at US$51.43 per barrel. Meanwhile, Maybank IB Research said in a note today it expected the FBMKLCI to trade between 1,750 and 1,765 level today and the downside support at 1,738 and 1,713 level. Of the heavyweights, Public Bank added four sen to RM19.96, Sime Darby gained one sen to RM9.40 and Petronas Chemicals rose five sen to RM7.65. Maybank and TNB were flat at RM9.00 and RM13.74, respectively. Of the actives, Permaju Industries advanced eight sen to 27 sen and PUC Founder (MSC) added half-a-sen to 14.5 sen. Sterling Progress was flat at 20 sen. The FBM Emas Index was 34.56 points higher at 12,457.03, FBM Emas Shariah Index increased 34.51 points to 12,876.84 and the FBMT100 Index rose 32.53 points to 12,111.30. The FBM 70 improved 43.68 points to 14,580.42 and the FBM Ace gained 28.97 points to 5,785.62. Sector-wise, the Plantation Index added 23.10 points to 8,231.50, Industrial Index was 9.34 points higher at 3,299.31 and the Finance Index rose 40.48 points to 15,793.14. -- BERNAMA