Bursa Malaysia Mixed At Midday
KUALA LUMPUR, Oct 22 (Bernama) -- Bursa Malaysia ended the morning trading session mixed amid cautious market sentiment.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 3.06 points, or 0.19 per cent, to 1,605.33, from Wednesday’s close of 1,602.27.
The index, which opened 2.49 points higher at 1,604.76, moved between 1,601.76 and 1,605.79 during the morning session.
In the broader market, losers outnumbered gainers 524 to 339, while 494 counters were unchanged, 1,543 untraded, and 18 suspended.
Turnover amounted to 2.58 billion units worth RM1.03 billion.
Apex Securities Bhd expects the FBM KLCI’s recovery above the 1,600 psychological level may provide some near-term relief, although the rebound remains vulnerable amid persistent foreign selling and fragile market sentiment.
It added that elevated oil prices and geopolitical uncertainties continue to pose risks to inflation and corporate earnings, while investors are likely to remain cautious ahead of the US Federal Open Market Committee’s interest rate decision on Oct 29.
“Domestically, resilient economic growth and more attractive valuations following the recent market correction may encourage selective bargain-hunting in fundamentally sound blue-chips.
“However, a sustained recovery will depend on improving market breadth and a moderation in foreign fund outflows,” said Apex Securities in a research note today.
Among the heavyweight counters, Maybank rose four sen to RM9.99, Public Bank and CIMB added one sen each to RM4.74 and RM7.15, respectively, while YTP Power eased two sen to RM5.32 and Hong Leong Bank declined four sen to RM21.48.
In active trading, Ace market debutant RedPlanet gained eight sen to 27 sen, JAKS increased half a sen to 17.5 sen, Zetrix AI was flat at five sen, and VS Industry shed half a sen to 34 sen.
Of the top gainers, Bintulu Ports surged 30 sen to RM5.40, Kuala Lumpur Kepong swelled 24 sen to RM20.32, United Plantations appreciated 20 sen to RM30.46, and Hong Leong Industries improved 18 sen to RM16.22.
As for the top decliners, Malaysian Pacific and Batu Kawan trimmed 40 sen each to RM40 and RM19.08, respectively. MI Technology shed 17 sen to RM6.46, and UMS Integrated decreased 16 sen to RM7.34.
On the index board, the FBM Mid 70 Index dwindled 62.59 points to 17,149.01, the FBM Emas Index rose 1.10 points to 11,956.97, and the FBM Top 100 Index climbed 5.56 points to 11,759.99.
The FBM Emas Shariah Index fell 3.37 points to 11,907.5, and the FBM ACE Index was lower by 22.46 points to 5,358.17.
Sector-wise, the Industrial Products and Services Index inched down 0.18 points to 175.21, the Plantation Index added 25.31 points to 8,645.43, the Financial Services Index rose 11.48 points to 18,620.17, and the Energy Index climbed 2.29 points to 823.52.
-- BERNAMA