Bursa Malaysia Remains Positive At Midday, Boosted By Bargain-hunting
KUALA LUMPUR, Aug 25 (Bernama) -- Bursa Malaysia remained higher at midday, buoyed by continuous bargain-hunting activities, led by the banking, utilities and healthcare counters.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 4.49 points to 1,601.96 from Friday’s close of 1,597.47.
The benchmark index had opened 5.35 points firmer at 1,602.82, and moved between 1,600.04 and 1,609.65 throughout the morning trading session.
Market breadth, however, remained slightly negative, with 467 losers outpacing 443 gainers, while 463 counters were unchanged, 1,231 untraded and 13 suspended.
Turnover stood at 1.66 billion units worth RM1.33 billion.
In a note today, Malacca Securities Sdn Bhd said that the local bourse is expected to trade higher, taking its cue from Wall Street, with strength expected in the technology sector.
“Traders may also turn their attention to Pekat Group Bhd and Solarvest Holdings Bhd amid renewed buying interest in the solar segment, following the government’s push for renewable energy through initiatives such as the National Energy Transition Roadmap, the Corporate Renewable Energy Supply Scheme and Large Scale Solar projects,” it said.
Among the heavyweights, Maybank rose 5.0 sen to RM9.85, Public Bank added 4.0 sen to RM4.51, CIMB group gained 3.0 sen to RM7.49, and Tenaga Nasional climbed 14 sen to RM13.70, while IHH Healthcare eased 5.0 sen to RM6.79.
As for the most active counters, Mtouche Tech added half-a-sen to 5.0 sen and Zetrix AI improved 1.5 sen to 88.5 sen, while Magma group shed 8.5 sen to 22.5 sen, Tanco Holdings decreased half-a-sen to 73 sen and Permaju Industries was flat at 1.0 sen.
On the index board, the FBM Emas Index rose 37.09 points to 11,871.65, the FBMT 100 Index climbed 39.12 points to 11,650.29, the FBM Emas Shariah Index advanced 34.63 points to 11,796.05, the FBM 70 Index strengthened 84.55 points to 16,640.95, and the FBM ACE Index added 6.73 points to 4,750.35.
Sector-wise, the Financial Services Index improved 84.65 points to 18,307.61, the Energy Index increased 0.65 of-a-point to 749.59, and the Plantation Index gained 27.54 points to 7,635.93.
The Industrial Products and Services Index slipped 1.45 points to 163.88, and the Utilities Index eased 10.11 points to 1,767.89.
-- BERNAMA