Kuala lumpur: Bursa Malaysia was higher at midday, supported by persistent bargain hunting across most sectors, led by healthcare stocks, analysts reported. At 12.30 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 0.51 per cent, or 8.72 points, to 1,688.64 from Tuesday's close of 1,679.92. The index opened 2.11 points better at 1,682.03 and moved between 1,680.49 and 1,690.66 throughout the morning trading session.
According to BERNAMA News Agency, market breadth was slightly negative, with decliners surpassing gainers 440 to 400, while 488 counters remained unchanged, 1,412 were untraded, and 41 suspended. Turnover stood at 1.45 billion units worth RM981.49 million.
In a note, MBSB Investment Bank Bhd indicated that the FBM KLCI is expected to maintain its upward medium-term trend, driven by expectations of continued stable gross domestic product (GDP) growth and a recovery in corporate earnings in 2026. However, the potential for a United States interest rate hike could impact the ringgit, fund flows, and equity valuations. As a result, the FBM KLCI's upward medium-term trend could face challenges, with the investment bank setting an end-2026 target of 1,800 points for the benchmark index.
Among heavyweight stocks, IHH Healthcare gained 22 sen to RM8.78, CelcomDigi rose 7.0 sen to RM2.72, Maxis climbed 6.0 sen to RM3.30, Hong Leong Bank garnered 26 sen to RM21.98, and Axiata advanced 2.0 sen to RM2.00. In terms of active counters, Zetrix AI added half a sen to 76.5 sen, Dagang NeXchange and Tanco were both flat at 42.5 sen and 13.5 sen, respectively, Malton increased by 6.0 sen to 32 sen, while AirAsia X decreased by 2.0 sen to RM1.29.
Among the top gainers, United Plantations advanced 68 sen to RM33.64, Nestle rose 32 sen to RM95.32, DKSH jumped 21 sen to RM8.78, and KLCCP Stapled Group increased by 16 sen to RM9.18. On the other hand, top losers included Dutch Lady, which shed 50 sen to RM32.00, Batu Kawan, which dropped 36 sen to RM21.20, FandN, which fell 22 sen to RM27.68, XL Holdings, which dipped 15.5 sen to 73 sen, and TMK Chemical, which slid 11 sen to RM2.53.
On the broader market, the FBM Emas Index increased by 61.35 points to 12,502.02, the FBM Top 100 Index climbed 64.05 points to 12,341.29, and the FBM Emas Shariah Index advanced 69.76 points to 12,382.24. The FBM Mid 70 Index jumped 94.21 points to 17,872.93, and the FBM ACE Index firmed 21.62 points to 4,732.30. Sector-wise, the Financial Services Index rose 87.18 points to 19,860.36, the Energy Index gained 3.17 points to 750.63, the Plantation Index increased by 19.74 points to 8,987.46, and the Industrial Products and Services Index added 0.12 of a point to 184.30.