Bursa Stays Higher At Midday, Tracking Regional Markets

KUALA LUMPUR, Aug 11 (Bernama) -- Bursa Malaysia stayed higher at midday, surpassing the 1,560 level, in tandem with gains in the regional markets as sentiment turned positive.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.39 points, or 0.35 per cent, to 1,562.37 from last Friday’s close of 1,556.98.

The benchmark index had opened 0.76 of a point higher at 1,557.74 and moved between 1,554.95 and 1,563.43 throughout the session.

Market breadth was positive with 452 gainers outpacing 431 losers, while another 461 counters were unchanged, 1,179 untraded and nine suspended.

Turnover stood at 1.49 billion units worth RM971.60 million.

Malacca Securities Sdn Bhd expected the market sentiment to stay positive due to Apple’s US$100 billion (US$1=RM4.23) investment pledge in the United States (US), which may spark trading opportunities within the US banking, construction and technology sectors.

“This week, traders will monitor key inflation data such as the consumer price index and producer price index,” it said in a note today.

Back home, the brokerage firm expected buying interest to spill over into the local bourse following Wall Street’s last Friday positive lead.

“Moreover, we favour Itmax System Bhd for its steady stream of project wins in Johor; with potential to replicate Johor’s success in Penang; as well as strong recurring revenue base, typically spanning over five to 10 years,” it said.

Meanwhile, it said Inari Amertron Bhd and Frontken Corporation Bhd remain in focus as these counters are key proxies to Apple’s manufacturing investment and the recent announcement of a possible 100 per cent tariff on semiconductors by the US administration. 

Among the heavyweights, Maybank rose 6.0 sen to RM9.67, Public Bank increased 2.0 sen to RM4.35, and CIMB went up 9.0 sen to RM6.95, while Tenaga Nasional eased 20 sen to RM13.60 and IHH Healthcare was 5.0 sen weaker at RM6.91. 

In active trade, Classita added 1.0 sen to 9.0 sen, Pharmaniaga inched up half-a-sen to 18.5 sen, Top Glove rose 2.0 sen to 61.5 sen, Zetrix AI put on 1.5 sen to 89 sen, while NexG was 12.5 sen easier at 41 sen.

Across the broader market, the FBM Emas Index strengthened 45.47 points to 11,647.26, the FBMT 100 Index climbed 45.85 points to 11,425.76, the FBM Emas Shariah Index edged up 24.42 points to 11,658.60, the FBM ACE Index increased 3.21 points to 4,610.09, and the FBM Mid 70 Index jumped 94.89 points to 16,600.42.

By sector, the Financial Services Index advanced 119.77 points to 17,700.59, the Plantation Index expanded 54.56 points to 7,480.68, the Industrial Products and Services Index firmed by 1.37 points to 159.13, but the Energy Index ticked down 0.40 of a point to 736.32.

-- BERNAMA