Bursa Malaysia higher at noon on better sentiment on US-China trade talks

by TMR

Bursa Malaysia main index ended the morning session higher as the planned China-US trade talks this month has eased worries over trade wars between the world’s two largest economies.

At the midday break today, the main index was up 6.54 points to 1783. 81 from yesterday’s close of 1777.27.

The benchmark index moved between 1780.26 to 1785.03 throughout the morning trading session, after opening at 1780.64. Bank Negara Malaysia announced the Malaysia’s gross domestic product (GDP) grew at a slower pace of 4.5% in the second quarter (1Q) after posting a growth rate of 5.4% in the 1Q mainly due to weaker growth in the agriculture, mining and manufacturing sectors.     

Market breadth was positive with gainers leading losers 464 to 308, while 384 were unchanged and 725 untraded.

Volume stood at 1.197 billion units, valued at RM885 million.

Among the top gainers, British American Tobacco (M) Bhd was up 1.87% to RM36, Malaysian Pacific Industries Bhd added 2.37% to RM12.08, Petronas Dagangan Bhd rose 0.68% to RM26.8, KLCC Property Holdings Bhd was lifted by 1.98% to RM7.72 and Air Asia Group Bhd climbed 3.85% to RM3.51.

Among the decliners are Nestle (M) Bhd that dropped o.41% to RM146.40, Dutch Lady Milk Industries Bhd that shed 0.42% to RM66.50, Fraser & Neave (F&N) Holdings Bhd fell 0.42% to RM37.64, Lysaght Galvanized Steel Bhd declined 5% to RM3.04 and DKSH Holdings (M) Bhd slid 3.41% to RM3.68.