Bursa Malaysia opened higher today after buying interest emerges in selective heavyweights and penny stocks.
FTSE Bursa Malaysia KLCI (FBM KLCI) was 4.36 points up at 1,683.24 from the previous close of 1,678.88. Market breadth was positive, as advances led decliners 401 to 288, with 1173 counters unchanged.
Among actives, V.S Industry up three sen to 89.5 sen, FGV Holdings up six sen to 84.5 sen, Bumi Armada and Sino Hua-A gained one sen each to 16.5 sen and 23 sen, respectively, while APFT edged down half-a-sen to 1.5 sen
On sector front, the Finance Index gained 16.63 points to 17,405.68, the Plantation Index increased 41.03 points to 7,081.96 and the Industrial Products and Services Index edged up 0.08 of-a-points to 164.79.
KLSE Stock Losers
Stock in News:
Petronas Chemicals Group Bhd (PetChem): Shares Lost 20 sen or 2.3% making the stock one of the top losers on the course. Analysts have cautioned on emerging headwinds as prices of ethylene/PE and urea/methanol are expected to drop.
KSL Holdings Bhd: Shares rose 1.38% in morning trade this morning following a positive technical outlook on the stock. Research firm expected in recovery for the stock from consolidation.
FGV Holdings Bhd shares rose 12 percent, more than any full-day gain since September 2015. Volume was more than 11 times the 20-day average.
Wall Street extended its rally into a straight day on Thursday in a session of volatile trading as investors responded to comments by Federal Reserve Chairman Jerome Powell.
The Dow Jones Industrial Average climbed 0.51 percent to end at 24,001.92 points, while the S&P 500 gained 0.45 percent to 2,596.63. The Nasdaq Composite added 0.42 percent to 6,986.07.
The S&P 500 is up over 10 percent from a 20-month low it touched around Christmas, lifted by hopes for a US-Chinese trade deal. Among 11 S&P sector indexes rose, led by a 1.55 percent increase in real estate, with consumer discretionary ending down 0.23 percent.
Forex Signals: The ringgit opens flat against the US dollar. The ringgit traded at 4.0950/1000, Ringgit remains sideways as lack of volume.
Gold Price: Gold prices edged up on Friday as the dollar softened on expectations the U.S. central bank will keep interest rates steady if the economy slows.
Spot gold had risen 0.2 percent to $1,288.83 per ounce in morning trade.
Gold Range: $1282-$1297