Bursa opens lower but rebounds thereafter

KUALA LUMPUR: Bursa Malaysia opened lower however bounced back from that point, incited by deal chasing exercises, a merchant said.

At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 1.74 focuses higher at 1,663.13, against Wednesday's end of 1,661.39.

The list opened 1.3 focuses lower at 1,660.09.

On the more extensive business sector, gainers drove failures 82 to 63 while 131 counters were unaltered, 1,404 untraded and 19 others were suspended.

Turnover remained at 30.0 million shares worth RM12.8 million.

A merchant said the nearby bourse resisted the simpler pattern locally, following bearish US stocks as vitality shares sank with the cost of oil.

Japan's Nikkei 225 slipped 0.92 percent, Hong Kong's Hang Seng fell 0.11 percent and Singapore's Strait Times was 0.40 percent lower.

Affin Hwang Investment Bank Bhd noticed that oil costs plunged strongly on theory that a drop in US rough inventories was just brief and supplies would swell again as refineries close down for support work in coming weeks.

Among heavyweights, Petronas Chemicals was up seven sen to RM6.70, CIMB enhanced four sen to RM4.74, TNB rose six sen to RM14.46 and Axiata enhanced three sen to RM5.34.

Of gainers, BAT rose 90 sen to RM50.40, ML Global added 18 sen to 89.5 sen while Pos Malaysia, LBS Bina, BIMB and Lafarge increased seven sen each to RM3.20, RM1.79, RM3.97,RM7.92, individually.

The FBM Emas Index expanded 9.15 focuses to 11,715.12, the FBMT 100 Index rose 8.54 focuses to 11,420.91 and the FBM Emas Syariah Index enhanced 2.81 focuses to 12,359.51.

The FBM 70 slid 2.16 focuses to 13,621.83, the Plantation Index diminished 23.12 focuses to 7,842.84 yet the FBM Ace was 2.33 focuses higher at 5,189.12 while the Finance Index was 22.93 focuses better at 14,270.71.

The Industrial Index fell 1.25 focuses to 3,107.98.

Gold prospects contract on Bursa Malaysia Derivatives opened untraded toward the beginning of today, in the midst of powerless interest for the valuable metal.

At 9.24am, September 2016, October 2016, November 2016 and December 2016 were pegged at RM175.90, RM176.40, RM178.15 and RM178.15 a gram, individually.

Volume was nil and open interest added up to 258 contracts.

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