Bursa Malaysia opens higher supported by the positive US market and global market recovery.
The benchmark FTSE Bursa Malaysia KLCI bounced 17.01 focuses to 1,686.79 from Friday’s end of 1,669.78. Market breadth was positive, as gainers outperform losers 380 to 77, while 184 counters were unchanged.
Among heavyweight’s gainers, Maybank rose to RM9.47, Public Bank and TNB both advanced to RM24.86 and RM13.66 respectively.
Sector-specific, the Finance Index surged 163.08 points to 17,404.87, the Plantation Index up 73.87 points to 6,954.77 and the Industrial Products and Services Index rose 1.06 points to 166.69.
KLSE Stock Loser
Stock in News:
DPI Holdings Bhd (DPI): which made its debut on the ACE market was the most actively traded counter on the local bourse this morning. Company shares rose 40% this morning to 35 sen.
HO WAH GENTING BHD: Company proposed private placement of up to 34.24 million new shares to raise funds for working capital and repayment of borrowings. This placement will be implemented in one or two trances with a discount of not more than 10% of prior five days price of fixing date.
PUC BERHAD: Its subsidiary Wealth Pursuit has signed Memorandum of Understanding (MoU) with Yayasan Pekerja Malaysia (YAPEM) to provide micro-financing to YAPEM members. The company said YAPEM will facilitate all operations to implement the deduction of salary program to manage its respective members’ repayment of the micro-financing to Wealth Pursuit.
US Stocks move to the upside through the span of last trading day. The major Index moved higher on too strong gains. The Dow Jones up 746.94 points or 3.3 percent to 23,433.16, the Nasdaq soared 275.35 points or 4.3 percent to 6,738.86 and the S&P 500 spiked 84.05 points or 3.4 percent to 2,531.94.
The Labor Department said non-farm payroll employment up by 312,000 jobs in December after climbing by an upwardly revised 176,000 jobs in November. The positive move on Wall Street partly reflected a positive reaction to a Labour Department report showing much stronger than expected job growth in the month of December.
Forex Signals: The ringgit was higher against the US dollar. The ringgit traded at 4.1200/1250 versus the US dollar from 4.1340/1370 at previous closing.
Gold Trading Range $1280-$1292.