Stronger buying interest lifts Bursa higher at midday
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.12 points, or 0.40 per cent, to 1,533.10 from Monday's close of 1,526.98.
The benchmark index had opened 1.65 points higher at 1,528.63 and moved between 1,528.63 and 1,536.95 throughout the morning session.
The market breadth was positive, with 414 gainers outpacing 400 losers. Another 503 counters were unchanged, 1,173 untraded and seven suspended.
Turnover stood at 1.56 billion securities worth RM1.08 billion.
Apex Securities Bhd expects stronger buying interest from local institutional funds following the 13MP announcement, as it could help cushion overall market weakness stemming from persistent foreign fund outflows.
"Additionally, market attention will now turn to the upcoming release of a slew of corporate earnings and the US ISM Services purchasing managers index (PMI) later today, which may offer further direction," the brokerage said in a note today.
Among the heavyweights, Maybank gained four sen to RM9.58, Public Bank rose one sen to RM4.25, Tenaga Nasional was six sen higher at RM13.22, and IHH Healthcare climbed nine sen to RM6.79, while CIMB was flat at RM6.75.
In active trade, Pharmaniaga improved one sen to 19 sen, TWL, Tanco and Sapura Energy all remained unchanged at 2.5 sen, 82 sen and four sen, respectively, while Top Glove lost 1.5 sen to 64 sen.
Across the broader market, the FBM Emas Index strengthened 41.62 points to 11,514.44, the FBMT 100 Index bagged 39.71 points to 11,273.31, and the FBM Emas Shariah Index rose 46.44 points to 11,539.65.
The FBM Mid 70 Index increased 35.58 points to 16,649.84, while the FBM ACE Index went up 11.02 points to 4,640.39.
By sector, the Financial Services Index perked up 48.95 points to 17,413.51, the Industrial Products and Services Index inched up 0.66 of a point to 158.68, and the Energy Index ticked up 1.74 points to 741.53, while the Plantation Index eased 1.74 points to 7,368.71.
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