Bursa Malaysia edges up on bargain hunting support
Malaysia’s stock exchange recovered from early losses on Friday morning as investors purchased selected industrial and utility shares. The benchmark FTSE Bursa Malaysia KLCI index rose 0.99 points to 1,608.99 by 9:10 a.m. after initially dropping 0.97 points at the opening bell. Market activity showed 250 advancing stocks against 96 declining issues, with turnover reaching 210.31 million shares valued at 98.94 million ringgit.
Rakuten Trade equity research vice president Thong Pak Leng said Wall Street gains overnight lifted regional sentiment ahead of a scheduled meeting between American President Donald Trump and Chinese President Xi Jinping next Thursday. Malaysian Pacific Industries jumped 50 sen to 30.20 ringgit while Hong Leong Bank added 14 sen to 20.72 ringgit. Nestle declined 60 sen to 107.40 ringgit as the plantation index fell 48.20 points to 7,869.55.
