Bursa Malaysia Remains Higher At Midday On Bargain Hunting
KUALA LUMPUR, July 13 (Bernama) -- Bursa Malaysia maintained its upward momentum at midday, supported by bargain hunting in selected heavyweight stocks after profit-taking weighed on the market in the early morning session.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.43 points, or 0.38 per cent, to 1,697.92, from Friday’s close of 1,691.49.
The benchmark index opened 1.81 points higher at 1,693.30, and moved between 1,685.74 and 1,698.56 during the morning trading session.
On the broader market, losers outnumbered gainers 586 to 314, while 510 counters were unchanged, 1,304 untraded, and 33 suspended.
Turnover stood at 1.68 billion units worth RM911.44 million.
In a note today, Hong Leong Investment Bank Bhd (HLIB) said market volatility is likely to persist amid renewed tensions in West Asia, the start of the US earnings season and Federal Reserve (Fed) chairman Kevin Warsh’s congressional testimony.
“Markets will also closely watch Warsh’s congressional testimony for policy signals, alongside key US economic data, including the June Consumer Price Index, retail sales, consumer sentiment and housing activity,” it said.
Among heavyweights, Maybank and Tenaga Nasional shed two sen to RM10.88 and RM14.28, respectively, while Public Bank and CIMB rose two sen each to RM4.91 and RM7.66, respectively. IHH Healthcare was flat at RM8.44.
As for the active stocks, Tanco added 2.5 sen to 22 sen, HHRG and Nationgate perked up half a sen to 11.5 sen and 88.5 sen, respectively, VS Industry was 1.5 sen firmer at 21 sen, while Zetrix AI eased one sen to 74 sen.
Of the top gainers, United Plantations increased 48 sen to RM34.74, SD Guthrie and Kuala Lumpur Kepong garnered 32 sen to RM6.56 and RM21.92, respectively, Press Metal gained 16 sen to RM7.86, and Petronas Chemicals climbed 15 sen to RM4.45.
Malaysian Pacific Industries led the losers list, falling RM1.10 to RM44.90, while Petronas Dagangan slipped 44 sen to RM19.12, Nestle decreased 24 sen to RM91.56, Kelington lost 23 sen to RM7.73, and Hong Leong Industries was 18 sen weaker at RM18.46.
Among the broader indices, the FBM Emas Index increased 27.53 points to 12,551.34, the FBMT 100 Index grew 28.99 points to 12,383.32, and the FBM Emas Shariah Index jumped 44.15 points to 12,417.77.
The FBM 70 Index declined 34.60 points to 17,823.87 and the FBM ACE Index dipped 32.98 points to 4,860.45.
Sector-wise, the Financial Services Index advanced 21.22 points to 19,942.88, the Plantation Index surged 235.50 points to 9,437.81, the Industrial Products and Services Index edged up 1.44 points to 184.02, and the Energy Index edged up 1.94 points to 770.76.
-- BERNAMA