Kuala Lumpur:Bursa Malaysia remained on an upward trajectory at midday, buoyed by regional market trends following Wall Street's positive overnight performance, which was driven by strong artificial intelligence investment and earnings momentum in megacap technology stocks.
According to BERNAMA News Agency, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased by 5.49 points, or 0.34 percent, reaching 1,637.24 from the previous day's close of 1,631.75. The index opened 4.63 points higher at 1,636.38 and fluctuated between 1,635.21 and 1,641.20 throughout the morning session.
Market breadth was positive, with gainers outpacing losers 524 to 428. Additionally, 520 counters remained unchanged, 1,310 were untraded, and 13 were suspended. Trading volume was recorded at 2.36 billion units valued at RM1.24 billion.
Hong Leong Investment Bank noted that Wall Street's gains were led by megacap technology stocks, with robust AI investment and earnings momentum outweighing concerns over elevated bond yields. Brent crude prices fell below US$102 per barrel as supply concerns eased due to recovering West Asia exports, the G7's emergency stockpile release, and Saudi Arabia's price cuts, although geopolitical risks persisted. The US 10-year yield rose to 5.33 percent, nearing its highest level since March 2022 amid inflation concerns and ongoing Treasury selling.
Among the leading stocks, Maybank rose by two sen to RM10.02, IHH Healthcare increased seven sen to RM7.83, Public Bank fell five sen to RM4.66, CIMB dropped two sen to RM7.71, while Tenaga Nasional remained unchanged at RM13.00.
In active trading, Zetrix AI increased three sen to 9.5 sen, while ACE Market debutant SLGC fell three sen to 25 sen. V.S Industry decreased half a sen to 31.5 sen, Ramssol dropped two sen to 81.5 sen, and Divfex stayed flat at 15.5 sen.
Top gainers included Malaysian Pacific Industries, which rose 86 sen to RM44.26, Nestle climbing 70 sen to RM90.70, Kuala Lumpur Kepong advancing 48 sen to RM21.34, Mi Technovation adding 38 sen to RM5.79, and Batu Kawan climbing 24 sen to RM19.22.
Dutch Lady Milk Industries led the decliners, falling 40 sen to RM29.60. Other losers were BLD Plantation, which slipped 18 sen to RM14.82, Ayer Holdings, down 15 sen to RM7.55, Samaiden, which erased 12 sen to RM3.07, and Kelington, falling 10 sen to RM9.02.
On the index board, the FBM Mid 70 Index increased by 97.32 points to 17,640.81, the FBM Emas Index gained 43.42 points to 12,233.77, the FBM Top 100 Index rose 47.07 points to 12,020.45, the FBM Emas Shariah Index increased by 74.37 points to 12,143.38, and the FBM ACE Index edged up 8.10 points to 5,614.71.
In sectoral performance, the Industrial Products and Services Index gained 0.98 points to 179.95, the Energy Index improved by 5.98 points to 835.92, the Plantation Index surged 114.24 points to 9,045.27, while the Financial Services Index decreased by 20.24 points to 19,119.90.