Bursa Malaysia opens slightly firmer

 Publish date: Tue, 8 Sep 2020, 10:08 AM

KUALA LUMPUR: Bursa Malaysia opened marginally firmer today as overall market sentiment turned slightly positive, in line with regional peers' performance.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ticked up 0.12 point to 1,516.50 from Monday's close of 1,515.38.
The key index gained 2.21 points to 1,518.50 at the opening.
Market breadth was positive with gainers outpacing losers 241 to 125, while 306 counters were unchanged, 1,351 untraded and 23 others suspended.
Trading volume stood at 342.32 million shares worth RM125.09 million.
Regionally, Singapore's Strait Times Index edged up 0.23 per cent to 2,516.99, Japan's Nikkei firmed 0.24 per cent to 23,144.93 and South Korea's Kospi Composite Index was 0.75 per cent higher at 2,402.02.
Despite expecting the local bourse to stage a rebound from recent losses, Rakuten Trade Sdn Bhd cautioned that overall sentiment for the rest of the day might be slightly affected by the sharp selling in small-cap stocks yesterday.
"Hence, we reckon investors will remain cautious, possibly looking to accumulate on weakness.
"As for the FBM KLCI, we believe it will hover within the 1,510- 1,520 range again," it said in a note today.
Gains among the heavyweights were mainly supported by Sime Darby Plantation which rose three sen to RM5.10, while Axiata advanced two sen to RM3.05, KLCC put on eight sen to RM7.97, Hong Leong Financial added 10 sen to RM13.94 and CIMB accumulated one sen to RM3.25.
Of the actives, Nova MSC and Iris bagged two sen each to 13 sen and 38.5 respectively, SYF perked three sen to 32.5 sen, DPS was 1.5 sen better at 13 sen while Luster slipped half-a-sen to 12 sen.
Top gainer Comfort Glove rose 13 sen to RM4.26 while top loser Top Glove erased 16 sen to RM8.12.
On the index board, the FBM Emas Index expanded 2.97 points to 10,950.59, the FBM Emas Shariah Index strengthened 2.89 points to 12,957.10 and the FBM ACE accelerated 61.98 points to 10,736.0.
The FBMT 100 Index was 0.79 point easier at 10,752.47 and the FBM 70 declined 7.37 points to 14,285.92.
Sector-wise, the Financial Services Index advanced 5.44 points to 12,660.73, the Industrial Products and Services Index inched up 0.21 point to 136.98 and the Plantation Index improved 19.08 points to 7,108.62.
 - Bernama
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