KUALA LUMPUR: Share prices on Bursa Malaysia opened
higher this morning on fresh buying support, a dealer said.
At 9.16 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 2.49
points better at 1,879.54 points, after opening 1.5 points higher at 1,878.55.
Maybank Kim Eng, in a research note, recommended a 'sell on rallies' stance
for the local index.
"The KLCI August Futures moved into a 2.55 points discount against the FBM
KLCI. We expect weak buying interest at the supports of 1,855 to 1,867, while
heavy liquidation will be at the resistances of 1,877 and 1,896.
"As the selling is persistent, the index’s tone has turned bearish and may
plunge soon. All late last-minute rebounds should be sold down," it said. - Bernama