Bursa Malaysia opens higher today on renewed buying interest and in line with the stronger last night performance of US market.
The benchmark FTSE Bursa Malaysia advanced 7 points to 1,679.80 from Tuesday’s close of 1,672.76. The index opened near high.
Market breadth was positive, as gainers led losers 571 to 215, while 1075 counters were unchanged.
Other actives included, Hubline inched up half-a-sen to 5.5 sen, Bina Puri increased two sen to 25.5 sen, Prestariang rose one sen to 44 sen, Hibiscus Petroleum was two sen higher at 95 sen and Gagasan Nadi Cergas slid half-a-sen to 30 sen.
KLSE Stock Losers
Stock in News:
MMHB: (Malaysia Marine and Heavy Engineering Holdings Bhd’s): Company share price rose 7.87% this morning after its wholly-owned subsidiary Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) was awarded an engineering, procurement, and construction of fixed offshore structure job by Petroleum Nasional Bhd (Petronas).
Boustead Plantations Bhd is taking legal action against SP Setia Bhd’s Setia Fontaines Sdn Bhd for breach of a sale and purchase agreement (SPA) involving land deals in Penang.
Petronas Chemicals Group Bhd. shares fell as much as 5.45 percent, while Malaysia’s benchmark index advanced. PETRONAS Chemicals cut to underweight at JPMorgan price target RM7.50.
Stocks moved generally higher through the trading day on Tuesday, extends the upward move seen over the two past sessions.
The significant indexes all finished the day in the positive region. The Dow flooded up 256.10 focuses or 1.1 percent to 23,787.45, the Nasdaq bounced 73.53 focuses or 1.1 percent to 6,897.00 and the S&P 500 shot up 24.72 focuses or 1 percent to 2,574.41.
Positive thinking about exchange talks between the U.S. Furthermore, China added to the proceeded with quality on Wall Street in the midst of the second day of gatherings between the U.S. what’s more, according to Chinese authorities.
In the bond market, treasuries extended the pullback seen over the course of the two previous sessions. While the yield on the benchmark ten-year note rose by 3.4 basis points at 2.716 percent.
Forex Signals: The ringgit opens higher in an early session against the US dollar. The ringgit traded at 4.1150/1200 versus the US dollar from 4.1160/1200 yesterday close.
Gold Price: Gold trade in sideways to narrow range on hopes of U.S & China trade deal offset support from expectations of a pause in U.S. Federal Reserve rate hikes.
Gold Trading Range $1280-$1290.