KUALA LUMPUR: Blue chips opened higher on Monday, underpinned by gains in heavyweight Sime Darby and Public Bank but the FBM KLCI could struggle later due to the cautious regional markets.
At 9am, the FBM KLCI was up 2.45 points to 1,658.58, after falling 19.56 points or 1.17% to 1,656.13 last Friday. Turnover was 14.27 million shares valued at RM8.42mil. There were 58 gainers, 34 losers and 83 counters unchanged.
Reuters reported Asian shares fell on Monday, tracking a sell-off in global shares late last week, as investors continued to shed risk ahead of the closely fought US presidential election and looked past a strong US jobs data to fragile economic growth worldwide.
The MSCI index of Asia-Pacific shares outside Japan fell 0.3%t after climbing to its highest since Oct 23 on Friday.
At Bursa Malaysia, UMW rose 20 sen to RM10.18, while Public Bank edged up four sen to RM15.84 and Sime three sen to RM9.79.
Dutch Lady was the top gainer, up 30 sen to RM49.30. PetDag rose 18 sen to RM21.88 and PetChem six sen to RM6.49.