Bursa Malaysia Ends Morning Session Higher
KUALA LUMPUR, July 14 (Bernama) -- Bursa Malaysia ended the morning session higher, with the benchmark index gaining 0.86 per cent on sustained buying interest in banking stocks.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 14.72 points to 1,713.16 from Monday’s close of 1,698.44.
The FBM KLCI, which opened 1.25 points firmer at 1,699.69, moved between 1,698.21 and 1,714.05 during the session.
In the broader market, losers outnumbered gainers 601 to 345, while 497 counters were unchanged, 1,259 untraded, and 22 suspended.
Turnover stood at 2.01 billion units worth RM1.16 billion.
In a note today, Hong Leong Investment Bank Bhd (HLIB) said Asian markets tumbled as renewed West Asia tensions triggered a broad risk-off sell-off, lifting oil prices and pressuring technology stocks.
It said sentiment weakened after Iran intensified missile and drone attacks on the Gulf states and declared the Strait of Hormuz closed, raising fears of oil supply disruptions.
“Bucking weaker regional markets, the FBM KLCI surged to the 1,700 level, with the rebound underpinned by bargain-hunting in selected plantation and commodity heavyweights, which benefited from firmer energy prices and helped cushion the rising risk premium,” it said.
Among the heavyweights, Maybank rose six sen to RM11.00, Public Bank added seven sen to RM4.99, Tenaga Nasional gained 14 sen to RM14.44 and CIMB increased four sen to RM7.73, while IHH Healthcare eased four sen to RM8.43.
As for the active stocks, Tanco improved 3.5 sen to 27.5 sen and HHRG was up two sen to 13.5 sen. Velesto and Zetrix AI slid 1.5 sen each to 27 sen and 75 sen, respectively, while Dagang Nexchange trimmed one sen to 41.5 sen.
Of the top gainers, Petronas Gas soared 42 sen to RM17.88, Fraser & Neave garnered 36 sen to RM29.30, Petronas Chemicals climbed 35 sen to RM4.70 and Batu Kawan surged 30 sen to RM21.70.
Malaysian Pacific Industries led the losers list, falling RM1.08 to RM43.22, while Nestle reduced 44 sen to RM91.28, Kelington decreased 18 sen to RM7.52 and UWC was 17 sen weaker at RM5.84.
Among the broader indices, the FBM Emas Index increased 58.24 points to 12,612.20, the FBMT 100 Index grew 64.40 points to 12,451.0 and the FBM Emas Shariah Index racked up 54.55 points to 12,451.94.
The FBM 70 Index declined 90.39 points to 17,735.96 and the FBM ACE Index dipped 53.96 points to 4,811.05.
Sector-wise, the Financial Services Index gained 115.85 points to 20,135.92, the Plantation Index strengthened 52.16 points to 9,439.68, the Industrial Products and Services Index rose 2.63 points to 186.15 and the Energy Index edged up 0.29 of a point to 773.58.
-- BERNAMA