Bursa Malaysia opened higher but lack of market participation from traders.
The benchmark FTSE Bursa Malaysia KLCI up 1points focuses to 1,680.17 from Monday’s end of 1,679.17. Earlier market opens higher with 6.55 points higher at 1,685.72 in the early morning.
Among heavyweights, Maybank rose to RM9.48, Public Bank rose to RM24.74, TNB and Petronas Chemicals added six sen each to RM14 and RM8.99 respectively, while CIMB and IHH Healthcare both went up by five sen to RM5.69 and RM5.61 respectively.
Sector-specific, Finance Index rose by 54.67 points to 17,414.23, the Plantation Index up 9.10 points to 6,957.69 and the Industrial Products and Services Index up 0.91 points to 165.32.
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Sapura Energy said in a filing with the stock exchange yesterday that it has secured several contracts and contract extensions with a combined value of RM760 million for its current financial year ending Jan 31, 2019.
Gagasan Nadi Cergas Bhd’s share price ups as much as 33.33% or 10 sen to 40 sen, after making its debut on Bursa Malaysia’s ACE Market this morning. The stock open at a premium of 9 sen to 39 sen at the opening bell against its offer price of 30 sen.
Destini Bhd shares rose sharply after the group said its unit received a three-year contract extension from the Home Affairs Ministry to maintain, repair the Royal Malaysian Police’s Pasukan Gerakan Udara.
U.S. stocks on Monday closed higher, extending last week rally, as speculators looked for further indications talk between the U.S. what’s more, China.
The Dow Jones Industrial Average DJIA, +0.42% rose 98.19 focuses, or 0.4%, to complete at 23,531.35, while the S&P 500 record SPX, +0.70% progressed 17.75 focuses, or 0.7%, to 2,549.69. The Nasdaq Composite Index COMP, +1.26% bounced 84.61 focuses, or 1.3%, to 6,823.47.
The U.S. services sector grows at the slowest pace in five months in December, according to the data released on Monday. The index fell to 57.6% in December, from 60.7%, and below economists’ expectations of 58.7%.
Forex Signals: The ringgit was higher against the US dollar. The ringgit traded at 4.1100/1150 versus the US dollar from 4.1120/1160 at previous closing.
Gold Price: Gold trade sideways to positive after news of pause in U.S. rate hikes and hopes of a Sino-U.S. trade deal put pressure on the dollar. Earlier Gold made high of 1295 after US data on Monday.
Gold Trading Range $1282-$1295.