Bursa Malaysia opens higher on improved buying sentiment

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Bursa Malaysia opens higher on improved buying sentiment
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KUALA LUMPUR, March 21 ― Bursa Malaysia staged a rebound in early trade today amid improved buying sentiment in line with the positive Wall Street performance overnight. At...

KUALA LUMPUR, March 21 ― Bursa Malaysia staged a rebound in early trade today amid improved buying sentiment in line with the positive Wall Street performance overnight.The market bellwether opened 5.35 points higher at 1,407.16.

“We believe the local bourse will remain sideways until more clues are given after the conclusion of the US Federal Open Market Committee meeting,” it said in a research note today. “Also, we expect investors to look for defensive stocks within the gold, consumer staples, and telecommunications sectors amid the uncertain global environment,” it added.

Among the actives, Malaysia Building Society and Yew Lee Pacific improved one sen each to 65.5 sen and 35 sen, respectively, Green Packet and Sapura Energy were flat at 5.5 sen and 4.5 sen, respectively, and Hong Seng Consolidated and Niche Capital Emas both eased half-a-sen to 13.5 sen and 17.0 sen, respectively.

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