KUALA LUMPUR: Bursa Malaysia experienced a rise in the FTSE Bursa Malaysia KLCI (FBM KLCI), which climbed above the 1,600 mark at midday due to sustained buying activities in select heavyweight sectors, specifically industrial products and services, financial services, and telecommunication and media.
According to BERNAMA News Agency, at 12.30 pm, the FBM KLCI increased by 2.16 points or 0.14 percent to reach 1,605.36, compared to the previous day’s close of 1,603.20, after opening with a slight decrease of 1.37 points at 1,601.83. The index fluctuated between 1,597.12 and 1,605.95 during the morning trading session. Despite the positive movement of the index, market breadth remained negative, with 460 decliners outnumbering 378 advancers. Additionally, 513 counters remained unchanged, 1,127 were untraded, and 39 were suspended.
Key contributors to the composite index’s rise included Press Metal Aluminium, which added 6.0 sen to RM4.99, CIMB, which improved by 4.0 sen to RM8.15, and Telekom Malaysia, which
gained 10 sen to RM6.62, collectively boosting the index by 2.22 points.
Malacca Securities Sdn Bhd suggested that the increase in oil prices, driven by potential tensions between the US and Russia’s oil trade, could lead to a rebound in oil and gas-related stocks. The firm also advised traders to monitor data center midstream industries within the Technology sector, such as IT solutions, cybersecurity, hard disk drives, electronic manufacturing services, and outsourced semiconductor assembly and testing, given the ongoing construction of data center facilities. They also expressed interest in select Utility, Industrial Products, and Consumer stocks experiencing an uptrend.
Other significant movements among heavyweights included Petronas Dagangan, which rose 32 sen to RM20.40, Maybank, which advanced by 2.0 sen to RM10.14, and Petronas Gas, which added 6.0 sen to RM17.12. Conversely, Petronas Chemicals declined by 7.0 sen to RM4.91, and Hong Leong Bank decreased by 10 sen to RM20.40.
Among active stocks, T
MK Chemical increased by 20 sen to RM1.95, and Datasonic edged up by half-a-sen to 43.5 sen, while TWL Holdings, Zen Tech, and Aizo remained unchanged at 3.0 sen, 1.0 sen, and 13 sen, respectively.
On a broader scale, the FBM 70 Index gained 7.34 points to 18,430.35, the FBM Emas Shariah Index rose by 20.28 points to 12,289.52, the FBM ACE Index increased by 3.47 points to 5,296.72, the FBM Emas Index improved by 11.68 points to 12,309.16, and the FBMT 100 Index advanced by 12.76 points to 11,992.07. In terms of sectoral performance, the Industrial Products and Services Index edged up by 0.12 points to 174.12, the Energy Index climbed by 3.35 points to 825.64, while the Financial Services Index fell by 14.43 points to 19,138.23, and the Plantation Index dropped by 9.53 points to 7,631.66.