Sustained Buying Lifts Bursa Malaysia Higher At Midday
KUALA LUMPUR, June 18 (Bernama) -- Bursa Malaysia ended higher at midday, supported by continued buying interest in heavyweights, amid mixed regional market performance.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.43 points, or 0.31 per cent, to 1,715.42 from Tuesday's close of 1,709.99.
The key index opened 12.36 points firmer at 1,722.35 and moved between 1,711.67 and 1,722.63 throughout the morning trading session.
Market breadth, however, was negative with decliners outnumbering gainers 595 to 445, while 469 counters were unchanged, 1,277 untraded and 34 suspended.
Turnover stood at 2.63 billion units worth RM1.59 billion.
Hong Leong Investment Bank Bhd said the FBM KLCI is likely to remain range-bound as investors await further clarity on developments surrounding the US-Iran agreement and reassess the implications of a more hawkish Federal Reserve (Fed) monetary policy stance.
It also stated that Asian markets wavered as investors weighed the healthy consolidation in AI and tech stocks, coupled with an extended pullback in oil prices, driven by expectations that a US-Iran deal to reopen the Strait of Hormuz could lift supply and ease inflation pressures.
“The move has prompted a broader reassessment of the global interest rate outlook by the Fed’s first meeting under Chairman Kevin Warsh, with markets anticipating a potential rate hike this year,” it said.
Among heavyweights, Maybank was flat at RM11.16, Public Bank lost two sen to RM5.03, IHH Healthcare fell four sen to RM8.75, while Both Tenaga Nasional and CIMB rose two sen each to RM14.58 and RM7.80, respectively.
As for the active stocks, Tanco slid one sen to 14 sen, Hong Seng slipped half a sen to one sen, Sum Technology added 21.5 sen to 49.5 sen, Zetrix AI shed three sen to 77 sen, while Vinvest gained one sen to five sen.
Of the top gainers, Hong Leong Industries added 72 sen to RM19.20, Petronas Dagangan increased 36 sen to RM18.64, Press Metal rose 31 sen to RM8.51, and Dutch Lady climbed 28 sen to RM32.54.
Among top losers, Nestle slipped RM2.00 to RM94.80, Malaysian Pacific Industries fell 94 sen to RM48.36, Paragon dipped 55 sen to RM1.74, and United Plantations erased 40 sen to RM31.82.
On the index board, the FBM Emas Index rose 20.24 points to 12,682.42, the FBM Top 100 Index added 24.86 points to 12,524.25, and the FBM Emas Shariah Index put on 21.67 points to 12,496.41, while the FBM ACE Index gave up 21.89 points to 4,755.10 and the FBM Mid 70 Index slid 27.69 points to 18,082.87.
Sector-wise, the Financial Services Index garnered 40.48 points to 20,324.74, the Industrial Products and Services Index perked up 1.51 points to 190.08, while the Plantation Index declined 19.83 points to 8,759.54 and the Energy Index eased 2.02 points to 762.61.
-- BERNAMA
