KUALA LUMPUR (June 16): Bursa Malaysia ended the morning trading session higher due to continuous bargain-hunting in selected heavyweights, amidst stronger regional market performance, a dealer said.
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At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 9.22 points to 1,468.27 from Wednesday’s close of 1,459.05
The barometer index opened 10.05 points higher at 1,469.1, and moved between 1,466.18 and 1,476.02 throughout the session.
On the broader market, gainers led losers 457 to 335, while 381 counters were unchanged, 1,106 untraded and 13 others suspended.
Turnover stood at 1.34 billion units worth RM823.57 million.
In a note on Thursday, Malacca Securities Sdn Bhd said it expects to see mild bargain-hunting activities in the near term.
“Still, we reckon that the lack of fresh market catalysts and anxieties over the lingering inflationary pressure could result in the market environment remaining wary over time, which may keep the upside limited,” it said in a note.
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Meanwhile, it said market conditions should turn calmer following the conclusion of the US Federal Open Market Committee (FOMC) meeting, which saw an interest rate hike that was within market expectations.
Meanwhile, Bursa heavyweights Malayan Banking Bhd rose seven sen to RM8.70, Public Bank Bhd added five sen to RM4.53, Petronas Chemicals Group Bhd was up by 12 sen to RM9.65, and IHH Healthcare Bhd gained eight sen to RM6.27.
Of the actives, BCM Alliance Bhd stayed flat at 2.5 sen, LGMS Bhd added 3.5 sen to 80.5 sen, Yong Tai Bhd inched up half-a-sen to nine sen, while Top Glove Corp Bhd lost three sen to 98 sen.
On the index board, FBM Emas Index was 64.51 points higher at 10,496.27, FBM Emas Shariah Index advanced 53.52 points to 10,670.7, FBM 70 improved 85.03 points to 12,724.38, FBMT 100 Index increased 65.15 points to 10,219.18, and FBM ACE rose 9.4 points to 4,898.07.
Sector-wise, the Financial Services Index jumped 178.33 points to 16,346.4, the Industrial Products and Services Index was 1.91 points higher at 189.26, while the Plantation Index lost 23.83 points to 7,358.67.-BERNAMA