KL Shares Higher In Early Trading

Share prices on Bursa Malaysia opened higher in early trading Friday on buying momentum as the market took the cue from the sharp overnight rally on Wall Street, dealers said.
At 9.15am, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) rose 5.33 points to 1,259.29 led by gains on banking stocks. It opened 6.11 points higher at 1,260.07.
TA Securities said the sharp overnight rally on Wall Street, with the Dow Jones average surging 200 points to close above 10,000 triggered by lower jobless claims and productivity surge, should spillover into the region today.
" As such, buying momentum should strengthen on the broader market, with lower liners to outperform blue chips in terms of percentage gains," it said in a research note on Friday.
An analyst said the FBM KLCI is likely to gain further given the positive market sentiment like improvement in consumer confidence and global economic recovery.
The FBM Emas Index gained 33.71 points to 8,422.1, the FBM Top 100 shot up 30.97 points to 8,209.56, the FBM 70 rose 15.49 points to 8,125.54 and the FBM ACE Index surged 100.58 points to 4,699.19.
The Finance Index advanced 62.41 points to 10,774.82, the Plantation Index added 7.25 points to 6,071.61 and the Industrial Index rose 5.88 points to 2,693.47.
Gainers led losers by 204 to 24 with 101 counters unchanged and 942 others untraded.
Turnover stood at 122.68 million shares worth RM98.575 million.
For the actives, Redtone gained 5.5 sen to 47 sen, MRCB fell six sen to RM1.33, GHL System rose two sen to 51 sen and Time Engineering was unchanged at 53.5 sen.
Among the heavyweights, Sime Darby gained four sen to RM9.04, Maybank added three sen to RM6.86, CIMB earned 10 sen to RM12.80 but Tenaga Nasional Bhd was flat at RM8.40.