Bursa Malaysia rebounds at opening

 Publish date: Mon, 7 Sep 2020, 10:02 AM

KUALA LUMPUR: Bursa Malaysia opened lower but rebounded thereafter as investors revisited the equity market following a week of correction.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ticked up 0.57 of-a-point to 1,516.43 from last Friday's close of 1,515.86.
The key index eased 1.23 points to 1,514.63 at the opening.
Market breadth was positive with gainers outpacing losers 234 to 202, while 291 counters were unchanged, 1,309 untraded and 36 others suspended.
Trading volume stood at 404.16 million shares worth RM140.22 million.
Buying interest were also seen in the lower liners and small market-capitalisation (small-cap) stocks, with the FBM ACE surging 100.04 points to 10,906.09 and the FBM Small Cap Index (FBMSCAP) advancing 21.90 points to 13,698.19.
Rakuten Trade Sdn Bhd expects regional markets, including Bursa Malaysia to improve today following a week of correction.
"On the local front, we expect the FBM KLCI to continue with the consolidation on an upward bias to test the 1,520 mark today, with intermittent support level seen at the 1,510 level," it said in a note today.
Wall Street is closed for the Labour Day today, it added.
Among the heavyweights, Top Glove increased five sen to RM8.43, Maybank edged up three sen to RM7.24, Petronas Gas was 10 sen better at RM17.46, PPB group added eight sen to RM18.68 and Axiata improved one sen to RM3.02.
Of the actives, JCY gained 4.5 sen to 81 sen, Inix was 3.5 sen firmer at 38.5 sen, Permaju-PA eked out a small gain of half-a-sen to 7.5 sen, and Fintec and Vortex was half-a-sen higher at 15 sen and 8.5 sen, respectively.
Top gainer Allianz bagged 18 sen to RM13.88, Kossan strengthened 16 sen to RM13.56, Ipmuda accumulated 15.5 sen to 45 sen, Comfort was 13 sen better at RM4.22, and Ho Wah Genting perked 10.5 sen to 95 sen.
On the index board, the FBM Emas Index climbed 14.07 points to 10,986.37, the FBMT 100 Index was 7.85 points firmer at 10,778.39 and the FBM 70 advanced 25.12 points to 14,423.30.
The FBM Emas Shariah Index went up 16.21 points to 13,026.03.
Sector-wise, the Financial Services Index strengthened 16.06 points to 12,653.92, while the Plantation Index slipped 5.85 points to 7,057.40 and the Industrial Products and Services Index inched down 0.10 of-a-point to 136.83.
 - Bernama
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