The Bursa Malaysia main index ended higher at the close of the morning session, boosted by reports that the US and China had allayed a full-fledged trade war.
Reuters reported stocks rose after US Treasury Secretary Steven Mnuchin announced that the trade war between the US and China was put “on hold” following an agreement to drop their tariff threats that had roiled global markets this year.
At 12.30 pm, the main index rose 7.72 points to 1,862.22. The key index was traded between a low of 1,851.89 and a high of 1,864.94.
Gainers thumped losers 452 to 380 while 723 counters were untraded. 1.532 billion shares valued at RM1.2 billion changed hands.
Among the top gainers were Nestle (M) Bhd, Public Bank Bhd, Allianz (M) Bhd, British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd and LPI Capital Bhd.
The active counters during the session were MyEG Services Bhd, Sapura Energy Bhd, Hibiscus Petroleum Bhd, Sumatec Resources Bhd and GSB Group Bhd.
Cahya Mata Sarawak Bhd, Ajinomoto (M) Bhd, Press Metal Aluminium Holdings Bhd, CIMB Group Holdings Bhd and Kossan Rubber Industries Bhd were among the key losers.
The performance of the local index is also helped by the positive performance of regional Asian markets, with Japan’s Nikkei 255 adding 0.41% to 23,025.30, Korea’s KOSPI was 0.3% higher to 2,467. and Hong Kong’s Hang Seng rose 1.1% to 4,341.15.
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