KUALA LUMPUR: Blue chips opened slightly higher on Monday, supported by mild buying interest in FBM KLCI stocks like PPB Group, Dialog, Hartalega
and IHH Healthcare.
At 9.09am, the KLCI was up 1.79 points or 0.11% to 1,682.33. Turnover was 341.27 million shares valued at RM102.68mil. There were 201 gainers, 92 losers and 219 counters unchanged.
Kenanga Research said the overall technical outlook for the KLCI still appears lacklustre as key momentum indicators remain bearish.
“The index may trend lower to its support levels at 1,650 (S1) and even 1,630 (S2). Should the index break above the 1,700 (R1) resistance level, technical outlook will then turn positive as next resistance is found at 1,730 (R2),” it said.
Meanwhile, oil prices dipped in early trade, weighed down by concerns that a global economic downturn may dent fuel consumption, Reuters reported.
Brent crude oil futures fell 13 cents to US$67.03 while US West Texas Intermediate (WTI) futures lost 15 cents to US$58.37.
At Bursa, PPB Group rose 16 sen to RM18.40 while Hap Seng Consolidated, Dialog and Hartalega gained five sen each to RM9.96, RM3.28 and RM4.81 respectively. IHH added four sen to RM5.82.
Aeon Credit was the top gainer, up 28 sen to RM17.32, HL Industry 24 sen to RM10.34 and Takaful five sen to RM4.45.
Sapura Energy was the most active with 51 million share done, eking out a 0.5 sen gain to 37 sen while its warrants added one sen to 14.5 sen.
Hong Leong Bank fell 32 sen to RM20.96, MPI 26 sen to RM10.14 and UMW eight sen lower at RM5.70 while Uzma lost three sen to RM1.04.
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