KUALA LUMPUR (Dec 15): Kuala Lumpur shares started marginally higher on Friday, extending a four-session winning streak, with the main index up 0.03% and the broad stock market rallying as the US Federal Reserve eased interest rate policy, providing the business community with a breath of relief.

At 9.05am, the FBM KLCI had advanced 0.48 of a point to 1,456.74, versus Thursday's close at 1,456.26.

The KLCI opened 0.31 point weaker at 1,455.95.

On the broader market, gainers outpaced losers 164 to 96, while 261 counters were unchanged, 1,817 untraded, and 45 suspended.

Turnover amounted to 148.28 million units worth RM60.15 million.

Rakuten Trade equity research vice-president Thong Pak Leng said the KLCI rebounded to surge past the 1,450 mark underpinned by broad-based buying on Thursday.

“We believe buying activities will persist, and expect the index to hover within the 1,455 to 1,465 range today (Friday), taking advantage of the attractive valuation of the domestic market.

“Meanwhile, crude oil prices edged higher, with Brent closing above US$76 per barrel, as demand is seen to improve due to the US economy staying upbeat,” he told Bernama.

Among the key heavyweight counters, Malayan Banking Bhd (Maybank) was flat at RM9.05 a share, Public Bank Bhd added two sen to RM4.32, CIMB Group Holdings Bhd was one sen better at RM5.82, and Petronas Chemicals Group Bhd accumulated two sen to RM7.17, while Tenaga Nasional Bhd erased one sen to RM9.96.

Of the actives, Bina Puri Holdings Bhd at 9.5 sen, Saudee Group Bhd at three sen, and Handal Energy Bhd at 12 sen were all flat. Pan Malaysia Holdings Bhd at 7.5 sen and CN Asia Corp Bhd at 17 sen were both half a sen better.

On the index board, the FBM Emas Index rose 7.65 points to 10,795.32, the FBMT 100 Index was up 5.94 points to 10,460.91, and the FBM ACE Index improved 16.25 points to 5,155.57, while the FBM 70 Index added 19.09 points to 14,415.72.

The FBM Emas Shariah Index reduced by 5.68 points to 10,899.16.

Sector-wise,  the Financial Services Index gained 28.58 points to 16,458.63, but the Plantation Index declined 4.15 points to 6,996.67, the Energy Index rose 5.86 points to 810.09, and the Industrial Products and Services Index added 0.24 of a point to 171.97.