KLCI lifted by heavyweights at midday

By ALIFAH ZAINUDDIN / pic by TMR

Bursa Malaysia’s main index the KLCI closed the morning session 5.81 points higher, boosted by key index-linked and banking stocks.

The market opened higher at 1,682.96 from yesterday’s close as investors sought key counters and bargains.

Losers however, led gainers 336 to 308 with 377 counters unchanged and 838 untraded.

Top gainers were British American Tobacco (Malaysia) Bhd, Heineken Malaysia Bhd, Telekom Malaysia Bhd, Hong Leong Bank Bhd and Axiata Group Bhd.

Losers included Allianz Malaysia Bhd, Malaysian Pacific Industries Bhd, Tenaga Nasional Bhd, UMW Holdings Bhd and PLB Engineering Bhd.

Among the heavyweights, Telekom Malaysia Bhd gained 19 sen to RM3.50, AMMB Holdings Bhd was up by one sen at RM3.75 and CIMB Group Holdings Bhd gained five sen to RM5.45. Malayan Banking Bhd ended the morning session flat.

Other markets around Asia stumbled as China’s trade relations with the US continue to weigh on sentiment in the region. Japan’s Nikkei 225 was 77.56 points lower at 21,707.98 and Korea’s KOPI declined by around 10 points to 2.26277.

Hong Kong’s Hang Seng plunged by 306.46 points at 28,239.11 and Singapore’s STI was lower at 3,231.73 (down 4.23 points).

Over in the US, the NYSE was higher at 12,494.70 (up 9.12 points) while the Dow Jones Industrial Average declined to 24,174.82 (down 132.36 points).