Bursa Malaysia Higher At Midday Amid Mixed Regional Market Performance
KUALA LUMPUR, April 3 (Bernama) -- Bursa Malaysia settled marginally higher at midday, amid mixed performance in regional markets due to uncertainty over the outcome of the West Asia crisis.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 2.56 points to 1,700.86 from Thursday’s close of 1,698.30.
The benchmark index, which opened 5.82 points firmer at 1,704.12, moved between 1,698.60 and 1,708.12 during the morning session.
Market breadth was positive with 582 gainers surpassing 346 losers, while 448 counters were unchanged, 1,271 untraded, and 10 suspended.
Turnover stood at 1.83 billion units worth RM1.42 billion.
Apex Securities Bhd said global conditions remain fragile as escalating West Asia tensions and rising US protectionism weighs on sentiment.
Additionally, the US has introduced sweeping tariff measures, including up to 100 per cent on patented drugs, alongside a 20 per cent levy on firms committing to onshoring that rises to 100 per cent over four years, subject to compliance conditions, exemptions, and a January 2029 deadline.
"Against this backdrop, the Malaysian market is likely to stay cautious, with energy supported by firm oil prices, while export-oriented and manufacturing sectors face headwinds from weaker demand and rising cost pressures," it said in a statement.
Hence, Apex Securities favours the energy sector amid West Asia tensions, with upstream oil and gas benefitting from higher crude prices, supporting near-term earnings.
It added that the plantation counters may see indirect support from firmer biofuel demand, while defensive utilities remain attractive as investors seek stability amid heightened volatility.
Among the heavyweights, Maybank lost eight sen to RM11.38, Public Bank slipped three sen to RM4.68, CIMB shed nine sen to RM7.50, Tenaga Nasional added two sen to RM14.02, and IHH Healthcare was flat at RM8.96.
On the most active list, V.S. Industry eased half-a-sen to 18 sen, Top Glove increased three sen to 79 sen, Supermax Corporation climbed 4.5 sen to 35 sen, Zetrix AI improved 2.5 sen to 77.5 sen, and Careplus Group inched up one sen to nine sen.
Among top gainers, Nestle garnered RM2.84 to RM101.70, Kuala Lumpur Kepong rose RM1.06 to RM22.94, United Plantations put on 50 sen to RM34.50, Malaysian Pacific Industries went up 34 sen to RM29.42, and YTL Power jumped 30 sen to RM3.50.
As for top losers, Hong Leong Bank fell 30 sen to RM21.70, Westports slid 18 sen to RM5.26, RHB Bank and Petronas Chemicals slipped 17 sen each to RM8.37 and RM5.80, respectively, and Fraser & Neave Holdings gave up 14 sen to RM29.16.
On the index board, the FBM Top 100 Index firmed 33.38 points to 12,290.39, the FBM Emas Index gained 40.90 points to 12,429.52, the FBM Emas Shariah Index increased 89.20 points to 12,286.12, the FBM ACE Index added 35.90 points to 4,306.04, and the FBM Mid 70 Index soared 111.22 points to 17,198.11.
By sector, the Financial Services Index tumbled 171.02 points to 19,967.23, while the Plantation Index surged 127.13 points to 9,217.48, the Industrial Products and Services Index edged up 0.06 of-a-point at 183.46, and the Energy Index increased 6.77 points to 813.40.
-- BERNAMA