Wall Street Rebound Lifts Malaysian Stock Market At Opening

KUALA LUMPUR, Oct 17 (Bernama) – The Malaysian stock market (Bursa Malaysia) opened higher on Wednesday, lifted by the overnight rebound on Wall Street, dealers said. At 9.15 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 3.01 points higher at 1,739.85 from 1,736.84 on Tuesday. The index opened 4.69 points stronger at 1,741.53. A dealer said Wall Street’s S&P 500, Nasdaq Composite and Dow Jones Industrial Average all registered their biggest one-day gains since late March and would help improve the trading mood on the local market. “Immediate overhead resistance for the FBM KLCI remains at 1,742 while immediate support stays at 1,697,” he said. Among heavyweights, Maybank added one sen to RM9.56 and Petronas Chemicals gained two sen to RM9.42. Public Bank lost four sen to RM24.94 and CIMB eased two sen to RM6.01, while TNB was flat at RM14.62. For actives, Vortex and Nova MSC eased half-a-sen each to nine sen and 16.5 sen, while XOX was flat at 5.5 sen. Barakah Offshore decreased 1.5 sen to 11 sen and Nextgreen slipped one sen to 48.5 sen. The FBM Emas Shariah Index advanced 36.54 points to 12,060.51, the FBM Ace Index improved 47.09 points to 5,039.48 and the FBM 70 perked 69.119 points to 13,931.06. The FBM Emas Index edged up 32.76 points to 12,041.71 and the FBMT 100 Index bagged 29.41 points to 11,871.37. Sector-wise, the Plantation Index lost 23.35 points to 7,377.61, but the Financial Services Index improved 29.521 points to 17,618.96, and the Industrial Products and Services Index was slightly higher by 0.56 of-a-point to 172.77. Gainers led losers 288 to 69, with 142 unchanged, 1,898 untraded and 27 suspended. Volume stood at 241.63 million units valued at RM117.17 million. -- BERNAMA