Kuala lumpur: Bursa Malaysia stayed higher at the midday break due to buying of selected heavyweight counters, with telecommunications, consumer products, and utilities stocks leading the gains. At 12:30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased by 6.51 points, or 0.38 percent, reaching 1,714.61 from the previous close of 1,708.10.
According to BERNAMA News Agency, the benchmark index opened 1.60 points higher at 1,709.70, fluctuating between 1,708.26 and 1,715.04 during the morning session. Despite the index's rise, the broader market remained negative, with 586 decliners surpassing 368 gainers. Additionally, 547 counters were unchanged, 1,287 untraded, and 25 suspended. The turnover was recorded at 2.01 billion units, valued at RM1.09 billion.
Hong Leong Investment Bank Bhd highlighted that the FBM KLCI might face further volatility this week due to ongoing external and domestic challenges. These include renewed tensions in West Asia, hawkish rhetoric from the US Federal Reserve, and elevated US Treasury yields and oil prices, which could lead to sustained foreign capital rotation away from emerging markets. Domestically, potential earnings disappointments in the second half of the year, amid a higher cost environment and political uncertainties related to the upcoming General Election 16 (GE16), could further limit gains.
Malacca Securities Sdn Bhd noted that the FBM KLCI is expected to remain above the 1,700 psychological level, with selective buying interest amid a cautious broader market. The brokerage emphasized focusing on stock-specific catalysts in infrastructure, renewable energy, and industrial growth sectors. Resistance is anticipated between 1,723-1,738, while support is projected at 1,678-1,693.
Among the heavyweights, CelcomDigi rose by six sen to RM2.76, MR DIY increased by three sen to RM1.38, and Tenaga Nasional climbed 26 sen to RM13.88. Petronas gained 22 sen to RM17.48, and 99 Speed Mart edged up four sen to RM3.47.
In terms of activity, HHRG rose 4.5 sen to 19 sen, Key Asic added 1.0 sen to 7.5 sen, whereas Zetrix AI and Ingenieur Gudang each fell by one sen to 24.5 sen and 3.5 sen, respectively. Capital A decreased by 1.5 sen to 29.5 sen.
Among the top gainers, Malaysian Pacific Industries increased by 52 sen to RM39.92, United Plantations gained 20 sen to RM32.26, and UMS Integration added 15 sen to RM8.25. Petronas Dagangan and Hong Leong Bank rose by 12 sen each to RM20.28 and RM23.78, respectively.
Conversely, among the top losers, Nestle declined by 34 sen to RM94.50, Vitrox fell by 10 sen to RM9.06, and Malayan Cement eased nine sen to RM6.05. Mega Fortris and Press Metal Aluminium each lost eight sen to RM2.26 and RM7.93, respectively.
On the index board, the FBM ACE Index dropped 4.79 points to 5,212.68, while the FBM Emas Index rose by 31.87 points to 12,657.32. The FBMT 100 Index increased by 34.99 points to 12,464.25. The FBM Emas Shariah Index gained 35.89 points, reaching 12,396.59, while the FBM 70 Index fell by 2.84 points to 17,766.36.
In sectoral performance, the Financial Services Index improved by 67.09 points to 20,228.58, the Plantation Index rose by 14.34 points to 9,352.26, while the Industrial Products and Services Index decreased by 0.48 points to 186.48. The Energy Index increased by 1.15 points to 806.77.