News

Bursa Malaysia higher at lunch break

During lunch time, the local bourse rises by 6.09 points to 1,426.64

BURSA Malaysia ended the morning trading session on a positive note as buying in selected heavyweights, led by Petronas Chemicals Group Bhd, Press Metal Aluminium Holdings Bhd and Public Bank, continued to support its key index, a dealer said.

Gains in the three counters contributed 4.73 points to the barometer index.

At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 6.09 points to 1,426.64 compared to yesterday’s close of 1,420.55.

The benchmark index opened 4.2 points better at 1,424.75.

On the broader market, gainers led losers 349 to 293, while 391 counters were unchanged, 1,314  untraded and seven others suspended.

Turnover stood at 1.25 billion units worth RM708.32 million. 

Hong Leong Investment Bank Bhd said profit-taking activities may cap further strong gains ahead of the tabling of Budget 2023 tomorrow and the US’ September jobs report.

“FBM KLCI staged a third consecutive day of rebound yesterday, and the next stiff hurdles are pegged at 1,436-1,454, with key supports remaining at 1,363, 1,380 and 1,400.

“Overall, wild swings may prevail in October, and resistance is expected at 1,436, 1,454 and 1,468 in wake of jittery markets, driven by higher perceived market risk premium for Malaysia in anticipation of an early 15th General Election,” it said.

At noon, Bursa heavyweights Public Bank gained four sen to RM4.29, Petronas Chemicals added 14 sen to RM8.79, and CIMB Group Holdings Bhd edged up two sen to RM5.28, while Malayan Banking Bhd was flat at RM8.70 and IHH Healthcare Bhd fell five sen to RM5.80.

Of the actives, both MMAG Holdings Bhd and Citaglobal Bhd rose by half-a-sen to three sen and 27 sen, respectively, ACE market debutant Cosmos Technology International Bhd advanced 21.5 sen to 56.5 sen, Top Glove Corp Bhd improved 2.5 sen to 66.5 sen and Hextar Industries Bhd was two sen better at 49.5 sen.

On the index board, the FBM Emas Index widened 43.59 points to 10,163.04, the FBM 70 advanced 60.29 points to 12,295.91, the FBM T100 Index was 43.78 points stronger at 9,916.47 and the FBM Emas Shariah Index rose 42.6 points to 10,212.51, while the FBM ACE slipped 19.07 points to 4,715.2.

Sector-wise, the Energy Index was 9.47 points firmer at 703.57, the Financial Services Index expanded by 70.62 points to 16,196.72 and the Industrial Products and Services Index added 1.75 points to 175.70, while the Plantation Index reduced by 19.84 points to 6,575.22. — Bernama / pic TMR File

Zukri

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