FBM KLCI Ends Morning Session Higher

By Zarul Effendi Razali

KUALA LUMPUR, Nov 25 (Bernama) -- Bursa Malaysia’s barometer index remained in positive territory at midday on continued buying in selected heavyweights, in sync with the mostly higher regional market performance.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 14.9 points to 1,604.68 from Friday’s close of 1,589.78.

The benchmark index, which opened 4.09 points higher at 1,593.87, moved between 1,588.46 and 1,609.29 throughout the morning session. 

However, market breadth was negative with decliners surpassing advancers 492 to 389, while 456 counters remained unchanged, 1,127 untraded, and 28 suspended.

Turnover stood at 1.49 billion units valued at RM1.21 billion.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said Wall Street extended its winning streak to five sessions last Friday, with the Dow achieving a record close.

“Investor sentiment was buoyed by hopes of corporate tax cuts, tariff reductions, deregulation, and a more accommodative monetary policy under President Donald Trump’s renewed administration,” he told Bernama.

Meanwhile, on the local front, he said the FBM KLCI pared gains in late trading on Friday but still ended up in positive territory.

“While buying interest remains lacklustre, the index's proximity to the oversold region could present opportunities to accumulate on dip. We reckon the benchmark index to remain in consolidation stage and expect it to trend within the range of 1,585-1,610 for today,” he said.

Among the heavyweights, Maybank improved 18 sen to RM10.38, Public Bank went up 9.0 sen to RM4.47, Hong Leong Bank gained 28 sen to RM20.76, IHH Healthcare rose 6.0 sen to RM7.25, and Tenaga Nasional added 8.0 sen to RM14.08.

As for the active stocks, CN Asia slipped 1.0 sen to 6.5 sen, Genetec Tech advanced 6.0 sen to 87.5 sen, YTL Corp bagged 12 sen to RM1.89, and MyEG was flat at 91 sen.

On the index board, the FBM Emas Shariah Index garnered 13.56 points to 12,139.07, the FBM Emas Index increased 90.8 points to 12,201.79, the FBMT 100 Index rose 95.13 points at 11,909.56, and the FBM 70 Index climbed 87.13 points to 18,021.15; but the FBM ACE Index fell 31.14 points to 5,131.93.

Sector-wise, the Industrial Products and Services Index shed 0.13 of a point to 173.15, the Financial Services Index added 287.16 points to 19,324.23, the Plantation Index erased 37.23 points to 7,501.29, and the Energy Index picked up 6.50 points to 826.62.

-- BERNAMA