KUALA LUMPUR, May 11 (Bernama) -- Bursa Malaysia’s benchmark index remained above the 1,700-point level at the end of the morning trading session, supported by buying interest, particularly in plantation and healthcare counters.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.43 points, or 0.13 per cent, to 1,750.49 from last Friday’s close of 1,748.06.
The benchmark index, which opened 5.94 points firmer at 1,754.0, moved between 1,744.99 and 1,754.0 during the session.
Market breadth, however, was negative, with losers outpacing gainers 549 to 445, while 571 counters were unchanged, 1,088 untraded and 12 suspended.
Turnover stood at 2.10 billion units, valued at RM1.43 billion.
Hong Leong Investment Bank Bhd (HLIB) expects the FBM KLCI to remain in an orderly profit-taking consolidation phase following its 26-point month-to-date rally (April: +31.7 points; year-to-date: +67.6 points) amid escalating geopolitical tensions and Brent crude prices nearing US$105 per barrel.
The rise in oil prices came after United States (US) President Donald Trump described Iran’s response to a US peace proposal as “unacceptable”.
The investment bank said sentiment will likely stay cautious and headline-driven, with a fragile ceasefire at risk amid renewed US-Iran skirmishes in the Persian Gulf and persistent Israel-Lebanon tensions that threaten to derail peace efforts.
“Beyond geopolitics, focus turns to the high-stakes Trump-China’s President Xi Jinping meeting in Beijing this week, where both sides aim to stabilise strained ties over trade, Taiwan, artificial intelligence (AI) chips, rare earths, and the Iran conflict,” it said in a research note.
On the domestic front, HLIB said the spotlight remains on the first quarter of 2026 earnings season, particularly for forward guidance and macro cues as investors weigh resilient fundamentals against rising geopolitical risks, elevated energy prices, supply chain frictions, and emerging growth headwinds.
Among the heavyweights, Maybank rose two sen to RM11.20 and IHH Healthcare added five sen to RM8.94, while Public Bank fell one sen to RM4.87, Tenaga Nasional lost 12 sen to RM14.70 and CIMB was flat at RM7.93.
Among the most active counters, Top Glove added six sen to 82 sen, SMRT gained four sen to 25 sen and Hartalega increased 10 sen to RM1.33, while Zetrix AI fell half a sen to 86.5 sen, and GIIB was 2.5 sen weaker at 13.5 sen.
Top gainers Fraser & Neave surged 18 sen to RM30.20, Press Metal and KPJ soared 12 sen each to RM8.80 and RM3.48, respectively, SD Guthrie went up 11 sen to RM6.17, and both KESM and Hume Cement rose 10 sen to RMR4.66 and RM3.21, respectively.
As for the top losers, Nestle (M) dropped 60 sen to RM102.0, Hong Leong Industries slipped 38 sen to RM18.78 and United Plantations trimmed 26 sen to RM30.54, while Hong Leong Bank and Hong Leong Financial shed 20 sen to RM22.42 and RM18.98, respectively.
On the index board, the FBM Emas Index advanced 21.07 points to 12,951.31, the FBM Top 100 Index strengthened 21.35 points to 12,793.88, the FBM Emas Shariah Index accumulated 23.26 points to 12,861.57, the FBM Mid 70 Index put on 46.44 points to 18,530.67, and the FBM ACE Index gained 9.36 points to 4,620.68.
By sector, the Financial Services Index gave up 40.98 points to 20,332.83, while the Energy Index rose 2.12 points to 814.43, the Plantation Index went up 46.47 points to 8,884.89, and the Industrial Products and Services Index was marginally higher by 0.94 points at 195.59.
-- BERNAMA
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