By Karina Imran
KUALA LUMPUR, Feb 26 (Bernama) -- Bursa Malaysia maintained its upward momentum to end the morning trading session in positive territory, buoyed by improved sentiment and buying in selected heavyweights.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 7.96 points or 0.51 per cent to 1,575.99, from Tuesday's close of 1,568.03.
The benchmark index opened 1.76 points easier at 1,566.27.
On the broader market, gainers led decliners 445 to 404, with 445 counters unchanged, 1,082 untraded and 36 suspended.
Turnover stood at 1.64 billion shares worth RM1.03 billion.
SPI Asset Management managing director Stephen Innes said despite mounting concerns over the United States’ (US) growth, the sharp decline in US yields is offering a temporary reprieve for local assets, acting as a much-needed springboard.
"Investors remain focused on Malaysia’s longer-term positioning, particularly its role in the ongoing supply chain reorientation. As companies look to hedge against geopolitical uncertainties and diversify away from China, Malaysia stands to attract a greater share of investment flows.
"The real test will be whether this optimism can hold up against broader macro headwinds, especially with the US exceptionalism trade starting to unwind," he told Bernama.
For now, investors are still willing to bet on Malaysia’s ability to capitalise on shifting global dynamics for now.
"But as risk appetite remains fragile, any escalation in trade tensions or a fresh wave of uncertainty out of Washington could quickly bring the rally to a grinding halt," said Innes.
Meanwhile, Bursa heavyweights Maybank added two sen to RM10.48, Public Bank and Tenaga Nasional climbed six sen to RM4.52 and RM13.46, respectively, while CIMB fell four sen to RM8.19 and IHH Healthcare edged down one sen to RM7.30.
As for the actives, Ingenieur Gudang eased half-a-sen to four sen, SFP Tech slipped two sen to 32.5 sen, Datasonic was 2.5 sen weaker at 27 sen and Nationgate dipped five sen to RM1.89.
On the index board, the FBM Emas Index bagged 56.25 points to 11,812.54, the FBMT 100 Index increased 60.21 points to 11,564.22, the FBM Emas Shariah Index rose 57.83 points to 11,492.71, and the FBM 70 Index expanded 95.41 points to 16,967.03, while the FBM ACE Index shed 2.62 points to 4,805.98.
By sector, the Financial Services Index climbed 89.28 points to 19,234.89, the Industrial Products and Services Index edged up 0.24 of-a-point to 158.94 and the Plantation Index was 37.83 points firmer at 7,520.43, while the Energy Index declined 1.24 points to 753.16.
-- BERNAMA
