Bursa ends morning session higher

Bursa ends morning session higher
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KUALA LUMPUR (Dec 1): The continued buying interest in selected heavyweights, mainly plantation and financial services counters, has pushed Bursa Malaysia’s key index to trade higher at midday.

At lunch break, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 4.42 points to 1,493.22 from Wednesday's closing of 1,488.8.

The market bellwether opened two points better at 1,490.8, and moved between 1,490.54 and 1,497.24 throughout the morning trading session.

Market breadth was positive with gainers surpassing losers 632 to 329, while 365 counters were unchanged, 907 untraded and 14 others suspended.

Turnover stood at 2.35 billion units valued at RM1.49 billion.

Malacca Securities Sdn Bhd said investors should see buying momentum building up in technology stocks following the sharp gains in the Nasdaq Composite Index as the narrative from the US Federal Reserve is turning less hawkish.

“Besides, investors may favour the energy counters following the surge in crude oil price and the positive earnings growth registered in the recent reporting season,” it said.

Among the heavyweights, Malayan Banking Bhd (Maybank) gained one sen to RM8.64, and Public Bank Bhd increased four sen to RM4.54, while Petronas Chemicals Group Bhd eased three sen to RM8.51, CIMB Group Holdings Bhd deducted two sen to RM5.78, and Tenaga Nasional Bhd fell seven sen to RM9.35.

Of the actives, Infomina Bhd added 18.5 sen to 76.5 sen, Green Packet Bhd ticked up half-a-sen to six sen, Leform Bhd rose three sen to 21.5 sen, and MyEG Services Bhd perked up six sen to 94.5 sen, while MQ Technology Bhd was flat at five sen.

On the index board, the FBM Emas Index increased by 67.57 points to 10,701.27, the FBMT 100 Index climbed 61.98 points to 10,414.24, the FBM Emas Shariah Index added 87.37 points to 10,870.46, the FBM 70 expanded 201.96 points to 13,053.05, and the FBM ACE garnered 62.11 points to 5,273.26.

Sector-wise, the Financial Services Index advanced by 44.36 points to 16,667.7, the Plantation Index lifted 105.97 points to 6,833.74, and the Energy Index gained 12.09 points to 779.6, while the Industrial Products and Services Index inched up 0.17 of-a-point to 181.93.