Bursa Opens Higher As Improving Regional Sentiment Spurs Bargain Hunting
KUALA LUMPUR, July 22 (Bernama) -- Bursa Malaysia edged up 0.19 per cent at the opening bell on Tuesday, supported by expectations of bargain hunting amid improving regional sentiment.
At 9.06 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.88 points to 1,527.47 from last yesterday's close of 1,524.59.
The benchmark index was 1.70 points higher at 1,526.29 at the opening bell.
Turnover stood at 128.25 million shares worth RM67.52 million.
Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the FBM KLCI pared losses yesterday due to late buying.
'Nonetheless, the above-average trading volume indicates higher trading opportunities. We expect bargain hunting may arise due to improving sentiment across the region.
'As such, we anticipate the benchmark index to trend within the range of 1,520-1,530 today,' he told Bernama.
Among the heavyweight counters, Maybank added five sen to RM9.57, TNB and CIMB were two sen better at RM13.80 and RM6.54, Public Bank was flat at RM4.30, while IHH was down two sen to RM6.61.
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