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KL shares remain positive at mid-morning in cautious trading

An investor monitors share market prices at a brokerage firm in Kuala Lumpur, Malaysia, August 24, 2015. — Reuters picAn investor monitors share market prices at a brokerage firm in Kuala Lumpur, Malaysia, August 24, 2015. — Reuters picKUALA LUMPUR, Aug 15 — Share prices on Bursa Malaysia remained positive at mid-morning in cautious and range bound trading, while tracking the better performance of its Asian peers, as well as in taking cue from the firmer overnight Wall Street, dealers said.

At 11am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.61 of a point higher at 1,771.69, after opening 1.79 points  better at 1,772.87 from Monday’s close of 1,771.08.

On the broader market, gainers led losers 379 to 229 with 290 counters unchanged, 952 untraded and 34 others suspended.

Turnover stood at 739.06 million shares worth RM419.31 million.

Hong Leong Investment Bank (HLIB) said US stock markets managed to rebound strongly led by technology heavyweights as the geopolitical jitters resulting from the war of words between the US and North Korea subsided. Investors bargain hunted stocks which were oversold.

It said sentiment on the local front is likely to remain buoyant amid the positive overnight performance of Wall Street.

Among heavyweights, Maybank, Sime Darby and  CIMB Group eased one sen each to RM9.68, RM9.39 and RM6.77 respectively, as Petronas Chemicals gained three sen to RM7.14, while Tenaga and Public Bank were flat at RM14.22 and RM20.58.

Of the actives, MLabs Systems improved three sen to 20.5 sen, PUC edged up half-a-sen to 12.5 sen, Lotte Chemical rose 43 sen to RM5.13, while JAG was flat at 15 sen.

The FBM Emas Index was up 15.07 points to 12,560.68, the FBM Emas Shariah Index gained 17.10 points to 12,684.04 as the FBMT 100 Index improved 13.55 points to 12,229.28.

The FBM 70 jumped 51.90 points to 14,836.80 and the FBM Ace rose 43.74  points to 6,433.65.

Sector-wise, the Finance Index added 1.54 points to 16,728.87 and the Plantation Index was 7.7 points better at 7,803.12, while the Industrial Index slid 0.14 of a point to 3,245.76. — Bernama

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