Bursa Malaysia Stays Higher At Midday On Buying Of Blue Chips
KUALA LUMPUR, Sept 7 (Bernama) -- Bursa Malaysia stayed higher at the midday break on buying of selected heavyweight counters, led by telecommunications, consumer products and utilities stocks.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was up 6.51 points, or 0.38 per cent, at 1,714.61 from Friday’s close of 1,708.10.
The benchmark index opened 1.60 points higher at 1,709.70 and moved between 1,708.26 and 1,715.04 throughout the morning session.
The broader market, however, remained negative, with decliners outpacing gainers 586 to 368, and 547 counters unchanged, 1,287 untraded and 25 suspended.
Turnover stood at 2.01 billion units, worth RM1.09 billion.
Hong Leong Investment Bank Bhd said the FBM KLCI could face further volatility this week amid persistent external and domestic headwinds. Renewed escalation in West Asia, hawkish US Federal Reserve (Fed) rhetoric, and elevated US Treasury yields and oil prices could sustain foreign capital rotation away from emerging markets.
“Domestically, potential second half (2H) earnings disappointments amid a higher-for-longer cost environment, the FBM KLCI expansion overhang and emerging General Election 16 (GE16) political jitters could further temper upside,” the investment bank said in a research note.
Malacca Securities Sdn Bhd said the FBM KLCI is expected to remain supported above the 1,700 psychological level, although buying interest may stay selective amid a cautious broader market backdrop. It said focus should remain on stock-specific catalysts across infrastructure, renewable energy and industrial growth plays. “Resistance sits at 1,723-1,738, while support is established at 1,678-1,693,” the brokerage added.
Among the heavyweights, CelcomDigi added six sen to RM2.76, MR DIY gained three sen to RM1.38, and Tenaga Nasional rose 26 sen to RM13.88. Petronas was up 22 sen to RM17.48, and 99 Speed Mart edged up four sen to RM3.47.
On the most active list, HHRG gained 4.5 sen to 19 sen, Key Asic added 1.0 sen to 7.5 sen, while Zetrix AI and Ingenieur Gudang fell one sen each to 24.5 sen and 3.5 sen, respectively. Capital A dropped 1.5 sen to 29.5 sen.
Among the top gainers, Malaysian Pacific Industries rose 52 sen to RM39.92, while United Plantations gained 20 sen to RM32.26, and UMS Integration added 15 sen to RM8.25. Petronas Dagangan and Hong Leong Bank climbed 12 sen each to RM20.28 and RM23.78, respectively.
Among the top losers, Nestle slipped 34 sen to RM94.50, Vitrox shed 10 sen to RM9.06, and Malayan Cement eased nine sen to RM6.05. Mega Fortris and Press Metal Aluminium lost eight sen each to RM2.26 and RM7.93, respectively.
On the index board, the FBM ACE Index declined 4.79 points to 5,212.68, the FBM Emas Index was 31.87 points firmer at 12,657.32, while the FBMT 100 Index gained 34.99 points to 12,464.25.
The FBM Emas Shariah Index was 35.89 points stronger at 12,396.59, and the FBM 70 Index fell 2.84 points to 17,766.36.
Sector-wise, the Financial Services Index improved 67.09 points to 20,228.58, and the Plantation Index picked up 14.34 points to 9,352.26, while the Industrial Products and Services Index slipped 0.48 of a point to 186.48. The Energy Index added 1.15 points to 806.77.
-- BERNAMA