Firm start for Bursa Malaysia as Tenaga, TM advance

KUALA LUMPUR: Malaysia’s  blue chips kicked off the new week on Monday on a strong note, sending the FBM KLCI up nearly five points, underpinned by gains in heavyweights Tenaga Nasional  and  Telekom Malaysia.

At 9.36am, the KLCI was up 4.95 points or 0.27% to 1,867.53. Turnover was 347.55 million shares valued at RM155.94mil. There were 234 gainers, 154 losers and 257 counters unchanged.

Reuters reported Asian shares scaled seven-year highs following stellar earnings from a few US hi-tech giants, but investors were cautious ahead of central bank meetings this week in the US and Japan and on apparent deadlock in Greece's talks with creditors.

MSCI's broadest index of Asia-Pacific shares outside Japan was rose 0.3% in early trade though Japan's Nikkei slipped 0.4 percent, largely on the yen's gains.

BIMB Securities Research said last Friday saw another net foreign inflow of RM82.8mil pushing last week’s total net inflow to RM163.5mil.

“We expect the rush for regional equities to sustain and expect the KLCI to possibly re-test its previous high of 1,896 sooner than anticipated,” it said.

At Bursa Malaysia, Tenaga added 18 sen to RM14.78 and TM 10 sen to RM7.56. Hong Leong Bank advanced 10 sen to RM14.30.

BAT was the top gainer, adding 42 sen to RM66.42 while Boustead was up 12 sen to RM4.66.

However, DKSH fell the most, down 15 sen to RM5.25 while Harrison was down 14 sen to RM3.36. Bursa Malaysia shed eight sen to RM8.81.