Bursa rebounds to open higher

Bursa rebounds to open higher
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KUALA LUMPUR (July 5): Bursa Malaysia rebounded to open slightly higher on Tuesday morning (July 5) on mild buying interest in the broader market. 

At 9.25am, the FBM KLCI had gained 3.64 points to 1,441.16 from Monday's close at 1,437.52. 

The benchmark index opened 4.35 points higher at 1,441.87.   

On the broader market, gainers led losers 217 to 156, while 223 counters were unchanged, 1,633 untraded and 14 others suspended.

Turnover stood at 303.98 million units worth RM125.26 million.

In a note, Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said he expects some selective accumulation to emerge as the benchmark index hovers within its current support level.

“As such, we anticipate the index to trend around the 1,430-1,450 range today (Tuesday), but plantation stocks may be impacted by the decline in crude palm oil prices which fell to RM4,460 per tonne after Indonesia raised its export quota,” he added.

Among the heavyweights, CIMB Group Holdings Bhd went up one sen to RM5.04 and Tenaga Nasional Bhd (TNB) rose five sen to RM7.96, while Malayan Banking Bhd (Maybank) and IHH Healthcare were flat at RM8.60 and RM6.43 respectively, Petronas Chemicals Group Bhd declined two sen to RM9.10 and Axiata Group Bhd fell one sen to RM2.72.  

ACE-market debutant Orgabio Holdings Bhd advanced three sen or 9.68% to 34 sen with 1.2 million units traded. 

Of the actives, AHB Holdings Bhd edged up half a sen to 13.5 sen, Metronic Global Bhd and Widad Group Bhd were flat at 9.5 sen and 36.5 sen respectively, while Opcom Holdings Bhd eased 3.5 sen to 79.5 sen. 

On the index board, the FBM Emas Index widened 29.85 points to 10,255.89, the FBM Emas Shariah Index increased 36.59 points to 10,390.36, the FBM 70 advanced 54.83 points to 12,348.86, the FBMT 100 Index improved 29.76 points to 10,003.72 and the FBM ACE decreased 43.46 points to 4,673.99.

Sector-wise, the Financial Services Index expanded 21.77 points to 16,061.58, the Industrial Products and Services Index inched up 0.37 of a point to 180.57, and the Plantation Index strengthened 42.88 points to 6,933.47.