KLCI firmer in early trade, more upside seen

KUALA LUMPUR: The FBM KLCI opened firmer on Monday, tracking the key regional markets on firmer investor sentiment, with analysts expecting Bursa Malaysia to extend its gains.

At 9.03am, the KLCI was up 2.91 points to 1,822.28. Turnover was 166.87 million shares valued at RM59.16mil. There were 189 gainers, 41 losers and 143 counters unchanged.

BIMB Securities Research said with the global forecast for the Asian markets suggesting a mild upside on optimism ahead of economic data and earnings reports this week, “we expect the local market to extend its gains today with immediate resistance at 1,825/1,835”.

KL Kepong was the top gainer, adding 16 sen to RM23.60  but with just 100 shares done.

Suiwah rose 13 sen to RM2.49 as analysts expected more upside for the supermarket and department store operator. Glove maker Hartalega added 10 sen to RM7.10.

Scomi Energy Services was in focus with 7.81 million shares done, surging 10.5 sen to RM1.10 with the entry of Tan Sri Quek Leng Chan.

Also trading higher was Hong Leong Industries, rising 10 sen to RM6.60 while Pestech and Latitude Tree gained nine sen each to RM3.75 and RM2.75.

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