Bursa Malaysia opens higher ahead of OPR decision


KUALA LUMPUR: Bursa Malaysia rose in early trade Tuesday ahead of Bank Negara’s overnight policy rate (OPR) decision tomorrow.

The FBM KLCI added 1.69 points to 1,417.64 at 9.07am. The index opened 0.26 of-a-point better at 1,416.21.

TA Securities said the key index chart supports remain the recent low of 1,391 and last October's low of 1,372, which must hold to prevent test of stronger chart supports at 1,350, 1,320 and 1,300.

“Immediate overhead resistance stays at 1,450, followed by the leveling 200-day moving average at 1,456, with 1,480 and 1,500 acting as stronger resistance levels,” it said.

On stock picks, TA Securities said gaming, construction and semiconductor related counters such as Genting Bhd, Genting Malaysia, MRCB, WCT Holdings, Inari Amertron and Unisem should attract bargain hunters at current depressed levels ahead of longer-term upside potential.

Overnight, the Dow Jones Industrial Average fell 46.46 points, or 0.14%, to 34,051.7; the S&P 500 lost 1.61 points, or 0.04%, at 4,167.87; and the Nasdaq Composite dropped 13.99 points, or 0.11%, to 12,212.60.

At Bursa Malaysia, Hong Leong Bank rose 20 sen to RM20.34, SHH Resources added 15 sen to RM1.23, Kuala Lumpur Kepong gained 14 sen and PETRONAS Chemicals climbed 14 sen to RM7.22.

Among the losers, PETRONAS Dagangan eased 44 sen to RM22.20, United Plantations fell 28 sen to RM15.28. Press Metal declined 11 sen to RM5.04 and Unisem slid seven sen to RM2.92.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

KLCI , Bursa Malaysia , FBM KLCI

   

Next In Business News

PM Anwar to participate in APEC CEO Summit, meet Google
CapitaLand Malaysia Trust appoints Yong Su-Lin as CEO designate
Keyfield's net profit higher at RM81.1mil in 3Q
Starbucks Malaysia operator reports net loss of RM33.7mil in 1Q
LBS Bina signs MoU for 10GW Green Hydrogen Plant in Sabah
Ringgit, emerging market currencies slide against greenback at the close
PETRONAS invests another RM7.5bil in Pengerang Integrated Complex
Bumi Armada, MISC sign MoU to explore offshore business merger
Teo Seng Capital upbeat on 4Q outlook
Sunway REIT 3Q net profit dips to RM89.14mil but revenue increases over 9%

Others Also Read