KUALA LUMPUR, Sept 12 -- Bursa Malaysia ended the morning trade higher, with the FTSE Bursa Malaysia KLCI (FBM KLCI) going up 4.98 points to 1,607.28, anchored mainly by gains in Petronas Chemicals and Maybank.
The market barometer opened 0.91 point better at 1,603.21 as compared to Wednesday's close of 1,602.30.
An analyst said the FBM KLCI is seen continuing its upward trajectory towards surpassing the 1,610 level, ahead of Bank Negara Malaysia’s (BNM) Monetary Policy Committee (MPC) and the European Central Bank (ECB) meetings today as well as the announcement by FTSE Russell’s World Government Bond Index (WGBI) soon.
Phillip Capital Management senior vice-president (investment) Datuk Nazri Khan Adam Khan recently said BNM may embark on another rate cut with the overnight policy rate (OPR) settling at 2.75 per cent amid softer economic growth and the ongoing easing cycle from major central banks around the globe.
Topping the heavyweights list, Petronas Chemicals added 34 sen to RM7.57, Maybank rose six sen to RM8.95, Digi was 12 sen higher at RM4.73, while Axiata and Genting Malaysia edged up four sen each to RM4.24 and RM3.25 respectively.
Of the actives, Hubline and Tadmax inched up half-a-sen each to 5.5 sen and 31.5 sen respectively, while Green Packet advanced one sen to 25.5 sen.
Bumi Armada was flat at 28.5 sen.
The FBM Emas Index gained 29.09 points to 11,320.95, the FBMT100 Index improved 28.88 points to 11,156.69 and the FBM Emas Shariah Index rose 32.03 points to 11,849.18.
The FBM Ace decreased 12.55 points to 4,493.18 and the FBM 70 expanded 12.37 points to 13,901.63.
Sector-wise, the Financial Services Index gained 37.13 points to 15,598.23, the Plantation Index dropped 15.48 points to 6,830.26 and the Industrial Products and Services Index was 2.53 points up at 153.52.
Market breadth was positive as gainers led losers 378 to 284, with 367 counters unchanged, 940 untraded and 15 others suspended.
Turnover stood at 1.07 billion units worth RM789.27 million.