KUALA LUMPUR: Tenaga fuelled the rally on Bursa Malaysia on July 20 as the power giant is expected to gain from the news flow on a transparent tariff formula and undersea cable from Bakun to the peninsula.

At 10am, the FBM KLCI was up 10.73 points to 1,131.63. Turnover was 160 million shares valued at RM207.38 million. There were 202 gainers, 86 losers and 138 stocks unchanged.

Among key Asian markets, Hong Kong’s Hang Seng Index opened 0.8% higher at 18,960.54, Singapore’s Straits Times Index was marginally higher by 0.01% to 2,431.13 and Shanghai added 0.83% to 3,216.62. Japan was closed.

Light crude oil rose 29 cents to US$63.85.

HwangDBS Vickers Research said after a fast and furious run last week – which saw its bellwether FBM KLCI climbing 53.1-points or 5.0% in total – the 30-stock index will probably want to hold on to its gains amid profit-taking temptations today. Its immediate resistance level is seen at 1,125.

“Nevertheless, investors will be watching with greater interest on selective individual stocks today,” it said, pointing out the stocks would include Astro, WCT, Bursa Malaysia and Public Bank.

Tenaga rose 35 sen to RM8.55 with 3.8 million shares done. DiGi, PPB and KLK advanced 20 sen each to RM22.30, RM12.50 and RM12.10 while Public Bank foreign gained 10 sen to RM10.10.

Hartalega added 14 sen to RM4.56, SP Setia 12 sen to RM4.20 and Axiata 11 sen to RM2.97.