Malaysian Stock Market Opens Higher

KUALA LUMPUR, Oct 27 (Bernama) -- The Malaysian stock market (Bursa Malaysia) opened higher Friday, tracking the better performance of its Asian peers coupled with the anticipation for potential goodies in the 2018 Budget to be announced later today, dealers said. At 9.04 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.91 points higher at 1,741.71 from Thursday's close of 1,736.80. The index opened 4.54 points better at 1,741.34. On the broader market, gainers outpaced losers by 157 to 59, while 165 counters remained unchanged with 1,494 untraded and 106 others were suspended. Turnover stood at 134.84 million shares worth RM40.22 million. In a note, TA Securities said positive anticipation for potential goodies in Budget 2018 to be announced this evening should keep stocks afloat with speculation over which sectors were likely to benefit from rotational buying. Meanwhile, Maybank IB Research said sentiment was likely to stay choppy throughout the day as investors cautiously awaits the 2018 Budget. "Meanwhile, oil & gas stocks could attract a following after oil price gained strength. "Technically, we expect the FBM KLCI to trade between 1,732 and 1,745 with downside support at 1,729 and 1,713 points level," it said. Among heavyweights, TNB added 36 sen to RM14.70, Sime Darby gained three sen to RM9.11 while Maybank, Public Bank and Petronas Chemicals were flat at RM9.24, RM20.48 and RM7.40, respectively. Of actives, EA Holdings, M3 Technologies, Sumatec and PUC edged up half-a-sen each to five sen, 15.5 sen, 5.5 sen and 18.5 sen, respectively, while GPA Holdings warrant was flat at five sen. The FBM Emas Index rose 35.55 points to 12,505.25, FBMT100 Index was 36.94 points firmer at 12,147.46 and FBM Emas Shariah Index increased 57.12 points to 12,903.34. The FBM Ace accumulated 38.74 points to 6,813.18 and the FBM 70 jumped 56.36 points to 15,209.35. Sector-wise, the Plantation Index was 14.77 points lower at 7,924.67, Industrial Index eased 2.97 points to 3,190.46 and the Finance Index improved 6.78 points to 16,248.47. -- BERNAMA