Bursa Malaysia Higher At Mid-Morning, Boosted By Selected Heavyweights
KUALA LUMPUR, Sept 22 (Bernama) -- Bursa Malaysia was higher at mid-morning, supported by gains in selected heavyweight counters, led by healthcare and banking stocks.
The positive performance was also in line with stronger regional and global markets amid robust artificial intelligence (AI) demand and easing rate-hike concerns as oil prices retreated, according to an investment bank.
At 11 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.98 points to 1,675.92 from Monday’s close of 1,666.94, after opening 2.80 points higher at 1,669.74.
Market breadth was positive with gainers outpacing losers 477 to 392. A total of 497 counters were unchanged, 1,507 untraded and 11 suspended.
Turnover stood at 1.51 billion shares worth RM909.07 million.
In a note today, Hong Leong Investment Bank Bhd said investors are also keeping an eye on efforts to de-escalate the United States (US)-Iran conflict, with oil and liquefied natural gas flows through the Strait of Hormuz remaining resilient.
It said attention would now turn to US President Donald Trump’s indication that he was open to meeting Iran’s president and other Persian Gulf leaders during this week’s United Nations General Assembly, as well as his meeting with China’s President Xi Jinping on Sept 24, as investors look for signs that the US-China trade truce can hold.
“Top officials from both countries began talks in New York on Sunday, paving the way for potential agreements on trade, AI and critical minerals ahead of the summit,” it said.
Among heavyweights, Maybank was flat at RM10.38, Public Bank added four sen to RM4.83, CIMB gained 11 sen to RM7.76, Tenaga Nasional strengthened six sen to RM13.10, and IHH Healthcare put on 35 sen to RM7.97.
Top active counters include AIMAX and Jaks Resources, both flat at one sen and 17 sen, respectively, while Zetrix AI firmed half a sen to 20.5 sen, AirAsia expanded five sen to 58 sen and Capital A grew 3.5 sen to 27.5 sen.
Of the top gainers, Fraser & Neave was 38 sen higher at RM22.98, Malaysian Pacific Industries advanced 32 sen to RM43.12, MI Technovation and UMS Integration strengthened 29 sen each to RM5.95 and RM8.75, respectively and Petronas Gas went up 22 sen to RM17.42.
As for the top losers, Nestle dropped 74 sen to RM88.96, Allianz Malaysia was 28 sen lower at RM21.02 and Sunway Healthcare reduced eight sen to RM2.21, while Hibiscus Petroleum and Paragon Union both shed seven sen to RM2.29 and RM1.41, respectively.
On the index board, the FBM Mid 70 Index rose 89.61 points to 17,778.76, the FBM Emas Index added 64.29 points to 12,462.90, the FBM Top 100 Index inched up 64.64 points to 12,255,08, the FBM Emas Shariah Index gained 63.14 points to 12,299.90, and the FBM ACE Index advanced 33.15 points to 5,349.58.
Sector-wise, the Industrial Products and Services Index put on 0.97 of a point to 184.47, and the Energy Index improved 1.88 points to 847.31.
The Financial Services Index climbed 95.85 points to 19,587.31, and the Plantation Index added 17.59 points to 9,428.08.
-- BERNAMA