Bursa Malaysia Ends Morning Session Higher
KUALA LUMPUR, Nov 3 (Bernama) -- Bursa Malaysia’s key index ended the morning session higher, reversing its earlier losses as bargain hunting and renewed buying support lifted the benchmark into positive territory, despite mixed overnight cues from Wall Street and broadly weaker regional markets.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 2.80 points to 1,622.31 from yesterday’s close of 1,619.51.
The benchmark index, which opened 1.25 points higher at 1,620.76, moved between 1,616.19 and 1,625.88 during the session.
In the broader market, losers outpaced gainers 584 to 308, while 474 counters were unchanged, 1,357 untraded, and 11 suspended.
Turnover amounted to 1.59 billion units worth RM1.21 billion.
Hong Leong Investment Bank Bhd said the FBM KLCI is expected to remain range-bound amid persistent external and domestic headwinds.
“Investors are likely to remain cautious ahead of the US mid-term elections later today and amid ongoing tensions between the US and Iran.
“Domestically, tentative foreign fund inflows are providing some support. However, a mixed earnings outlook for the November reporting season, institutional portfolio rebalancing ahead of the FBM KLCI’s phased expansion from 30 to 50 constituents, and political uncertainties could continue to temper market sentiment,” it said in a note today.
Among the heavyweight stocks, Maybank added two sen to RM10.00, Public Bank gained three sen to RM4.82, and CIMB bagged seven sen to RM6.99. Tenaga Nasional slipped 12 sen to RM13.18, and IHH Healthcare fell five sen to RM7.80.
In active trade, GIIB and NWE Resources edged up half a sen each to 50.5 sen and 20 sen, respectively, both Datasonic and Ni Hsin were flat at 26.5 sen and 34 sen, respectively, while Top Glove shed one sen to 95 sen.
United Plantations led the top gainers, putting on 44 sen to RM29.74, while Fraser & Neave rose 42 sen to RM20.70, RHB Bank improved 28 sen to RM7.78, Mega Fortris leapt 20 sen to RM3.08, and AMMB climbed 19 sen to RM6.46.
Among the top losers, Nestle fell 14 sen to RM95.98, Malaysian Pacific Industries decreased 48 sen to RM39.30, Petronas Dagangan sank 38 sen to RM19.40, Kelington dipped 24 sen to RM8.26, and Mi Technovation slid 25 sen to RM6.05.
On the index board, the FBM Emas Index edged down 0.35 of a point to 12,071.95 while the FBM Top 100 Index gained 3.80 points to 11,883.08.
The FBM Mid 70 Index erased 64.52 points to 17,323.05, the FBM Emas Shariah Index fell 57.59 points to 12,043.94, and the FBM ACE Index gave up 34.36 points to 5,308.63.
Sector-wise, the Industrial Products and Services Index eased 0.95 of a point to 177.82, the Energy Index declined 8.89 points to 829.00, the Financial Services Index jumped 157.87 points to 18,727.28, and the Plantation Index increased 53.94 points to 8,756.18.
-- BERNAMA