Bursa Malaysia Stays Higher At Midday, In Sync With Regional Market
KUALA LUMPUR, Aug 13 (Bernama) -- Bursa Malaysia continued its upward momentum at midday in line with the positive regional market performance, as market sentiments improved after the United States’ (US) July inflation data came in slightly below expectations at 2.7 per cent, fuelling hopes for a September rate cut.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 17.24 points to 1,585.14 from yesterday’s close of 1,567.90.
The benchmark index had opened 1.17 points firmer at 1,569.07, and moved between 1,569.07 and 1,590.61 throughout the morning trading session.
Market breadth was positive with 627 gainers outpacing 308 losers, while 464 counters were unchanged, 1,123 untraded and 18 suspended.
Turnover stood at 1.64 billion units worth RM1.52 billion.
Malacca Securities Sdn Bhd said resilient buying interest was seen across Wall Street overnight, driven by the US inflation data which came in slightly lower than expected, paving the way for a possible rate cut by the US Federal Reserve next month.
“We believe the overall market will see sustained buying interest in view of the easing interest-rate environment.
“With Wall Street’s positive lead, we expect buying support to spill over across the local bourse,” it said.
Among the heavyweights, Maybank added 12.0 sen to RM9.83, Public Bank increased 4.0 sen to RM4.44, Tenaga Nasional put on 22 sen to RM13.80, CIMB went up 17.0 sen to RM7.18, and IHH Healthcare was 7.0 sen higher at RM6.89.
In active trade, Sersol edged up 1.5 sen to 3.0 sen and Telekom Malaysia appreciated 13 sen to RM7.13, while Tanco fell 1.5 sen to 71 sen, Pharmaniaga inched down half-a-sen to 18 sen, and Classita was flat at 9.5 sen.
Across the broader market, the FBM Emas Index soared 112.56 points to 11,788.06, the FBMT 100 Index climbed 115.62 points to 11,571.80, the FBM Emas Shariah Index jumped 96.77 points to 11,762.15, the FBM ACE Index widened 17.95 points to 4,656.09, and the FBM Mid 70 Index expanded 121.99 points to 16,722.63.
By sector, the Financial Services Index increased 227.35 points to 18,042.0, the Plantation Index bagged 46.85 points to 7,578.66, the Industrial Products and Services Index firmed by 0.89 of a point to 160.95, and the Energy Index ticked up 0.41 of a point to 738.79.
-- BERNAMA