2 days ago
- Business
- New Straits Times
Bursa holds gains at lunch break despite softer market sentiment
KUALA LUMPUR: Bursa Malaysia ended the morning trading session in positive territory, though the tone remained soft due to mixed regional performances, with buying interest expected to shift towards fundamentally strong companies.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 2.08 points to 1,521.49, from Monday's close of 1,519.41.
The benchmark index opened 0.30 points higher at 1,519.71, and subsequently fluctuated between 1,517.74 and 1,522.30 throughout the session.
Advancers edged ahead of decliners at 384 versus 381 on the broader market, while a total of 466 counters were unchanged, 1,138 untraded and 11 suspended.
Turnover stood at 1.79 billion units, valued at RM883.18 million.
Malacca Securities Sdn Bhd said the local bourse is expected to see subdued trading, as investors' attention may shift to fundamentally strong companies.
Wall Street is expected to focus on the United States-China trade talks, which have driven modest gains in equities as officials hinted at progress ahead of the resumption of negotiations on Tuesday.
"As the market factors a rate-cut environment, Real Estate Investment Trusts could attract interest due to their healthy yields of over four per cent," it said in a research note today.
Among the heavyweights, 99 Speed Mart added nine sen to RM2.19, Axiata was six sen better at RM2.09, Public Bank rose two sen to RM4.28 and Telekom Malaysia added nine sen to RM6.65, while MR DIY and Press Metal bagged three sen each to RM1.64 and RM5.03, respectively.
As for the most active stocks, MYEG, Harvest Miracle and NEXG were all flat at 94.5 sen, 18 sen and 37 sen, respectively, while Tanco lost 2.5 sen to 96.5 sen.
On the index board, the FBM Emas Index added 24.54 points to 11,417.73, the FBMT 100 Index gained 24.84 points to 11,183.31, and the FBM Emas Shariah Index climbed 30.60 points to 11,394.64.
The FBM 70 Index advanced 74.24 points to 16,483.55, while the FBM ACE Index erased 5.83 points to 4,506.30.
Sector-wise, the Energy Index gained 1.19 points to 722.05, and the Industrial Products and Services Index perked up 0.12 of a point to 152.46.
Meanwhile, the Financial Services Index eased 3.35 points to 17,728.85 and the Plantation Index declined 13.21 points to 7,235.62.
