KUALA LUMPUR (Thomson Financial) - Malaysian shares opened higher on
Wednesday on bargain hunting after recent steep losses, with investors tracking
strong gains on Wall Street overnight as falling oil prices and the possibility
of more help for the ailing financial system lifted U.S. markets.
Crude prices tumbled $5.33 to settle at $136.04 a barrel on the New York
Mercantile Exchange on Tuesday, while the Dow rose 152.25 points or 1.36 percent
to 11,383.21.
Federal Reserve Chairman Ben Bernanke said in a speech that the central bank
might extend its lending efforts to investment banks.
At 9:19 a.m. (0119 GMT), the Kuala Lumpur Composite Index was up 4.91 points
or 0.4 percent at 1,126.16.
The FTSE Bursa Malaysia 30-large cap index added 26.97 points or 0.4 percent
to 7,268.53, while the FTSE Bursa Malaysia second board index climbed 3.18
points or 0.1 percent to 5,315.98.
Advancers led decliners 125 to 37, with 52 stocks unchanged and 1,177
untraded.
Trading volume was 32 million shares valued at 66 million ringgit.
($1=3.26 ringgit)
johnkb.tan@thomsonreuters.com
.
jt/ng
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