Continued Buying Interest Lifts FBM KLCI At Midday
KUALA LUMPUR, Nov 4 (Bernama) -- Bursa Malaysia’s key index ended the morning session higher, as continued buying in select heavyweights, led by financial stocks, lifted market sentiment.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.39 points, or 0.21 per cent, to 1,625.81 from Monday’s close of 1,622.42.
The benchmark opened 1.20 points lower at 1,621.22, its lowest level of the session, before climbing to an intraday high of 1,630.91.
Market breadth remained negative, with losers outpacing gainers 761 to 298, while 493 counters were unchanged, 1,095 untraded, and 13 suspended.
Turnover stood at 2.18 billion units valued at RM1.24 billion.
Hong Leong Investment Bank Bhd said traders are turning their focus to the upcoming United States Supreme Court ruling on the legality of tariffs imposed during the administration of President Donald Trump under the International Emergency Economic Powers Act of 1977.
“The Trump administration has warned that an unfavourable verdict, expected on Nov 5, could have ‘catastrophic consequences’ for national security, foreign policy and the broader economy,” it said in a note.
Meanwhile, Malacca Securities Sdn Bhd expects traders to seek opportunities in defensive sectors such as utilities and consumer stocks amid a risk-off environment.
Among heavyweights, Maybank rose two sen to RM9.97, Public Bank added three sen to RM4.27, and CIMB Group gained 11 sen to RM7.53. Tenaga Nasional slipped two sen to RM13.32, while IHH Healthcare fell 14 sen to RM8.21.
On the most active list, MMAG eased two sen to 16.5 sen, Borneo Oil and TWL remained flat at 0.5 sen and 2.5 sen, respectively. NexG lost 6.5 sen to 28.5 sen, and Tanco fell 10 sen to 84 sen.
Top gainers included Hong Leong Bank, up 42 sen to RM21.34; Ajinomoto, 36 sen higher at RM13.88; Hong Leong Financial, up 24 sen to RM17.28; Kuala Lumpur Kepong and Fraser & Neave, both rising 22 sen to RM21 and RM28.14, respectively.
Top losers were PJBumi, down 48 sen to RM2.04; Chin Teck Plantations, 34 sen lower at RM10.64; Malaysian Pacific Industries, down 30 sen to RM30.70; Nestle and Allianz Malaysia, each falling 20 sen to RM113 and RM18.10, respectively.
On the index board, the FBMT 100 Index rose 3.71 points to 11,832.27, while the FBM Emas Index fell 4.35 points to 12,078.65.
The FBM Emas Shariah Index declined 46.60 points to 12,088.50, the FBM ACE Index dropped 64.97 points to 5,106.80, and the FBM Mid 70 Index lost 86.01 points to 16,939.63.
By sector, the Financial Services Index jumped 161.80 points to 18,471.46, the Plantation Index slipped 6.23 points to 8,045.95, the Industrial Products and Services Index eased 1.34 points to 171.05, and the Energy Index fell 11.30 points to 762.09.
-- BERNAMA
