Bursa Malaysia Sharply Higher At Midday, Tracking Regional Gains
KUALA LUMPUR, July 10 (Bernama) -- Bursa Malaysia was sharply higher at midday today, tracking gains in regional markets, as buying in financial heavyweights supported market sentiment.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) surged 17.19 points, or 1.03 per cent, to 1,694.83, from Thursday's close of 1,677.64.
The benchmark index opened 5.14 points higher at 1,682.78, and moved between 1,682.78 and 1,696.25 during the morning trading session.
Market breadth was positive with gainers outnumbering losers 570 to 358, while 516 counters were unchanged, 1,272 untraded, and 25 suspended.
Turnover stood at 1.64 billion units worth RM1.06 billion.
Regionally, Hong Kong’s Hang Seng Index grew 1.86 per cent to 24,476.69, South Korea’s KOSPI Composite Index rose 5.49 per cent to 7,692.43, Japan’s Nikkei 225 edged up 1.85 per cent to 68,999.33, while Singapore’s Straits Times Index inched up 0.43 per cent to 5,457.96.
In a note today, Malacca Securities Bhd said that with the rebound in global markets and the slide in Brent oil prices, the market is immune to the United States (US)-Iran tensions.
“We expect the FBM KLCI to stay positive for the session. Markets may continue trading the technology sector alongside domestic plays with decent catalysts,” it said.
Among heavyweights, Maybank gained eight sen to RM10.94, Public Bank rose six sen to RM4.91, Tenaga Nasional added two sen to RM14.32, CIMB was five sen higher at RM7.65, and IHH Healthcare advanced 17 sen to RM8.49.
As for the active stocks, Zetrix AI and HHRG were up one sen each to 73.5 sen and 10.5 sen, respectively, Nationgate increased seven sen to 87.5 sen, Tanco inched up half a sen to 19.5 sen, and SRKK AI climbed 1.5 sen to 62.5 sen.
Of the top gainers, Fraser & Neave added 76 sen to RM29.68, UMS Integration was 46 sen higher at RM8.22, Petronas Gas edged up 28 sen to RM17.76, Kuala Lumpur Kepong advanced 26 sen to RM21.48, and Nestle rose 22 sen to RM91.52.
Malaysian Pacific Industries led the losers list, falling 48 sen to RM45.78, while Vitrox shed 15 sen to RM7.39, SAM Engineering & Equipment slipped 13 sen to RM4.77, Allianz Malaysia lost 10 sen to RM21.02, and Apollo Food declined nine sen to RM5.88.
Among the broader indices, the FBM Emas Index surged 102.50 points to 12,542.98, the FBMT 100 Index grew 104.54 points to 12,372.64, and the FBM Emas Shariah Index rose 106.55 points to 12,386.83.
The FBM 70 Index perked up 61.59 points to 17,859.23, while the FBM ACE Index dipped 7.53 points to 4,883.56.
Sector-wise, the Financial Services Index jumped 134.75 points to 19,962.83, the Plantation Index expanded 81.38 points to 9,158.36 and the Industrial Products and Services Index edged up 2.61 points to 183.27, while the Energy Index slid 0.60 of a point to 773.36.
-- BERNAMA