Friday 29 Mar 2024
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KUALA LUMPUR (Feb 9): The main index at Bursa Malaysia added 0.64% at the midday break Tuesday, tracking the gains at regional markets.

At 12.30pm, the FBM KLCI was up 9.62 points to 1,582.95. The index had earlier risen to a high of 1,586.90.

Gainers led losers by 557 to 446, while 458 counters traded unchanged. Trading volume was 3.93 billion shares valued at RM2.28 billion.

The gainers included Malaysian Pacific Industries Bhd, Carlsberg Brewery Malaysia Bhd, Ajinomoto (Malaysia) Bhd, Petronas Dagangan Bhd, PLS Plantations Bhd, Telekom Malaysia Bhd, Press Metal Aluminium Holdings Bhd and MISC Bhd.

The actively traded stocks included Dagang NeXchange Bhd, EA Holdings Bhd, Velesto Energy Bhd, Sapura Energy Bhd, QES Group Bhd, KNM Group Bhd and Opcom Holdings Bhd.

The decliners included Heineken Malaysia Bhd, Seni Jaya Corp Bhd, Hartalega Holdings Bhd, See Hup Consolidated Bhd, Woodlandor Holdings Bhd, Chin Teck Plantations Bhd, Kumpulan H&L High-Tech Bhd, SKB Shutters Corp Bhd and ViTrox Corp Bhd.

Reuters said Asian stock markets rose on Tuesday after a record-setting day on Wall Street, while Bitcoin paused for breath after an overnight endorsement from Tesla Inc sent the cryptocurrency up 20%.

Oil also hit 13-month highs, helped by rising optimism about a return in fuel demand, it said.

Hong Leong IB Research said despite the fresh record high closings on Wall Street, three major indices and the positive road map of Malaysia's National Immunisation Plan, KLCI is expected to remain lacklustre in this holiday-shortened week.

"We see near-term stiff resistances at 1,600-1,618 whilst supports fall on 1,538-1,563 amid elevated Covid-19 infections and the start of the February reporting season.

"Brent oil advanced above US$60 for the first time in more than a year, helped by renewed optimism in the global economic recovery and supply cuts among key producers.

"As for stock picks, oil and gas stocks could attract some active trading interests," it said.

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