Firmer third quarter start for Bursa as Tenaga gets up – Business News



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Kuala Lumpur: Bursa Malaysia started Monday the beginning of the month on a firmer note, with Tenaga Nasional continuing to fuel the blue chips, but if the market can retain the gains remains to be seen because of the growth between the United States and China. trade tensions and profit-taking after last Friday's outbreak.

At 9:02, the KLCI BMF increased by 3.43 points or 0.2% to 1 694.84. The turnover was 44.29 million shares valued at 24.47 million RM. There were 100 winners, 69 losers and 127 unchanged chips.

Last Friday, stock market data showed that foreign funds became net buyers after 37 days, with net purchases at RM259.4mil

A week filled with major economic events, while the l 39; The euro was briefly shaken by signs that a German political deal on immigration could be in trouble, Reuters reported.

The Japanese Nikkei fell 0.2%, with a survey of manufacturers showing that sentiment had cast a dark shadow over the threat of trade war. MSCI's broadest index of Asia-Pacific equities outside Japan was a firmer fraction in early trade.

The tension rises before the deadline of July 6, when the United States and China will impose tariffs of 34 billion US dollars on their respective imports.

On the outlook for Bursa Malaysia, Kenanga Research warned that the chart lacks a strong sign of a reversal of trend.

"If the sentiment of the market continues to improve, the index could go back to 1720 (R1) where a break above would be a strong sign of a trend reversal while the next resistance is identified as 1760 (R2).

"Conversely, immediate supports can be identified at 1.680 (S1) and 1.620 (S2)," he says.

Tenaga increased from 20 sen to 14.84 RM while CIMB added 10 sen to RM5.55 Aeon Credit gained 26 sen at RM14.66, Westports 16 sen at RM3.55 and Cypark eight sen higher at RM2.37.

Petronas Dagangan fell 36 sen at RM24.40 with 100 shares made, Public Bank shed 15 sen at RM23.30, Press Metal 12 sen at RM4.24

Pavillion REIT lost 24 sen at RM1.54, SP Setia 10 sen at R <3 and Sunway REIT was lower than eight sen at RM1.69 19659002] MPI lost 18 sen at RM10.06 and Lafarge 14 sen at RM2.96 while Sapura energy was the most active with 100 million shares realized, down from a sen to 63 sen.

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