Bursa Malaysia Key Index Rebounds To End Slightly Higher At Midday
KUALA LUMPUR, Sept 23 (Bernama) -- Bursa Malaysia’s key index rebounded to end a choppy morning session slightly higher, supported by buying interest in selected heavyweight counters, led by telecommunications and utilities stocks.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.04 points to 1,683.54 from Tuesday’s close of 1,683.50.
The benchmark index, which opened 1.31 points lower at 1,682.19, moved between 1,676.10 and 1,685.37 during the session.
Market breadth was negative, with losers outpacing gainers by 509 to 419. A total of 507 counters were unchanged, 1,436 untraded and 27 suspended.
Turnover stood at 1.84 billion units worth RM1.35 billion.
Telecommunications and media stocks were led by Maxis, which gained seven sen to RM3.59, while utilities counters were led by Tenaga Nasional, which recovered 24 sen to RM13.34, and Petronas Gas, which rose 28 sen to RM17.56.
Apex Securities Bhd said that technology stocks could stay on investors’ radar amid the renewed strength in global artificial intelligence and semiconductor counters, although the sector remains sensitive to movements in US Treasury yields.
“Utilities may also continue to attract defensive interest, supported by resilient electricity demand and ongoing grid and energy-transition investments,” it said in a note.
The stockbroking firm also said it expects the barometer index to maintain recovery momentum in the near term, supported by improving global risk sentiment, particularly following the renewed strength in technology and semiconductor stocks.
“The retreat in oil prices could also provide some relief to inflationary concerns and overall market sentiment, while expectations of further progress in the upcoming US President Donald Trump-Chinese President Xi Jinping meeting may support regional equities,” it added.
On the home front, Apex Securities said the recent weakness could continue to encourage bargain hunting, although the rebound's sustainability will likely depend on improvements in external sentiment and follow-through buying.
Among heavyweights, Maybank rose eight sen to RM10.20, Public Bank were flat at RM4.84, CIMB eased one sen to RM7.89, and IHH Healthcare firmed 10 sen to RM8.10.
As for the top actives, Zetrix AI shed 1.5 sen to 19 sen, Jaks Resources fell half a sen to 16.5 sen, Capital A slid one sen to 26 sen, Aimax remained unchanged at one sen, and AirAsia declined 2.5 sen to 55 sen.
Among the top gainers, Malaysian Pacific Industries recovered 78 sen to RM43.98, Nestle gained 36 sen to RM89.52, KESM Industries was 31 sen higher at RM4.32, Fraser & Neave advanced 26 sen to RM23.06, and Samaiden grew 21 sen to RM2.55.
Of the top losers, BLD Plantations lost 30 sen to RM14.70, Hong Leong Bank was 28 sen lower at RM23.10, United Plantations dropped 26 sen to RM33.28, Hong Leong Industries shaved off 24 sen to RM16.82, and Vitrox reduced 20 sen to RM9.80.
On the index board, the FBM Mid 70 Index was down by 9.91 points to 17,834.50, the FBM Emas Index declined 1.13 points to 12,513.01, the FBM Top 100 Index inched down 1.50 points to 12,306.38, while the FBM Emas Shariah Index gained 41.93 points to 12,368.31, while the FBM ACE Index advanced 40.30 points to 5,409.41.
Sector-wise, the Industrial Products and Services Index firmed 0.48 of a point to 185.38, and the Energy Index perked 1.50 points to 846.15.
The Financial Services Index narrowed 124.93 points to 19,609.74, and the Plantation Index trimmed 23.03 points to 9,432.98.
-- BERNAMA