Bursa Malaysia Ends Morning Session Higher On Continuous Buying

KUALA LUMPUR, Feb 5 (Bernama) -- Bursa Malaysia ended the morning session in positive territory, bolstered by continuous buying momentum led by the construction and utilities counters, analysts said. 

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 0.53 per cent or 8.43 points to 1,572.99, from Tuesday’s close of 1,564.56. 

The benchmark index, which opened 1.07 points higher at 1,565.63, moved between 1,564.43 and 1,575.36 throughout the morning session. 

On the broader market, gainers outnumbered decliners 519 to 306, while 418 counters were unchanged, 1,057 untraded and 10 suspended.

Turnover stood at 1.62 billion units worth RM1.14 billion. 

Maybank Investment Bank Bhd (Maybank IB) said the FBM KLCI has shown strong recovery in the construction sector, but caution remains as the rebound could be a false breakout following the recent sharp correction.

“Technically, we expect the benchmark index to range between 1,555 and 1,575 points today, with support at 1,535 and 1,500 points,” it said in a note. 

Among the heavyweights, Gamuda strengthened 21 sen to RM4.39, YTL Power International rose 12 sen to RM3.16, and YTL Corporation added 7.0 sen to RM1.95. Public Bank as 5.0 sen higher to RM4.45, and Press Metal Aluminium gained 6.0 sen to RM4.98.

Among the most active stocks, Harvest Miracle Capital was flat at 19.5 sen, while Oriental Kopi edged up half-a-sen to 90.5 sen, MYEG rose 1.5 sen to 97.5 sen, and Nationgate gained 11 sen to RM1.96.

On the index board, the FBM Emas Index appreciated 76.39 points to 12,011.22, the FBMT 100 Index grew 71.95 points to 11,703.61, and the FBM Emas Shariah Index rose 97.06 points to 11,851.83.

The FBM ACE Index added 37.77 points to 5,255.86, and the FBM 70 Index jumped 145.58 points to 17,813.44.

Sector-wise, the Financial Services Index recovered 25.10 points to 19,052.37, the Industrial Products and Services Index rose 0.61 of-a-point to 165.11, the Plantation Index gained 28.01 points to 7,401.09, and the Energy Index improved 7.61 points to 821.00.

-- BERNAMA