Bursa Malaysia Almost Flat At Midday
KUALA LUMPUR, June 18 (Bernama) -- Bursa Malaysia remained almost flat at midday today with buying support continuing in selected heavyweights, interspersed with profit-taking led by consumer products and services counters.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.009 per cent, or 0.13 of-a-point weaker at 1,511.51 from Tuesday's close of 1,511.64.
The benchmark index opened 0.25 of-a-point higher at 1,511.89 and moved between 1,509.42 and 1,512.96 throughout the morning session.
The broader market was negative, with 419 decliners surpassing 288 gainers. Another 441 counters were unchanged, while 1,258 were untraded and 13 suspended.
Turnover stood at 1.62 billion shares worth RM818.59 million.
Malacca Securities Sdn Bhd said in a note that interest would persist in gold and oil and gas-related counters, given a prolonged Israel-Iran tension.
'Meanwhile, with Malaysia advancing 11 spots to 23rd in the World Competitiveness Ranking 2025, which measures how business-friendly a country is, we believe investors should continue to look into the construction sector, supported by data centre investments and the Johor-Singapore Special Economic Zone (JS-SEZ) initiative,' it said.
The Investment, Trade and Industry Ministry said in a statement yesterday that the latest ranking, up from 34th last year, also reaffirmed the nation's trajectory towards becoming one of the world's top 12 most competitive economies by 2033 as targeted under the MADANI Economy framework.
The stockbroking and financial services company also said that it remains optimistic about the solar sector, as many players reported increasing revenue and profits and are expected to benefit from the country's renewable energy goals.
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