Bursa ends morning session higher

Bursa ends morning session higher
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KUALA LUMPUR (Sept 12): Bursa Malaysia ended Monday's (Sept 12) morning trading session slightly higher on continued buying in selected heavyweight stocks, led by the financial services and healthcare sectors.

At 12.30pm, the FBM KLCI gained 1.47 points to 1,498 from Friday's close of 1,496.53.

The benchmark index opened 1.13 points firmer at 1,497.66.

On the broader market, gainers surpassed decliners 362 to 323, while 389 counters were unchanged, 1,241 untraded, and nine others suspended.

Turnover stood at 1.53 billion units worth RM790.6 million.

Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng said the FBM KLCI was higher on Monday as Wall Street had continued its uptrend, ignoring the US Federal Reserves’ tough stance on fighting inflation.

“The FBM KLCI ended marginally higher on Friday from selective buying in bank and telecommunications stocks, with several attempts to breach the 1,500 mark but it failed.

“We reckon the index will breach this resistance today as we expect the sentiment to improve with a focus on the bank and technology sectors again,” he told Bernama.

The energy sector could see some volatility despite crude prices rebounding with the Brent surging past the US$92 per barrel.

Among the heavyweight counters, Malayan Banking Bhd (Maybank) rose three sen to RM9 while CIMB Group Holdings Bhd, too, gained three sen to RM5.47. Public Bank Bhd climbed one sen to RM4.70, IHH Healthcare Bhd added five sen each to RM6.22, and Petronas Chemicals Group Bhd was one sen lower at RM8.93.

Of the actives, CSH Alliance Bhd went up half-a-sen to 4.5 sen, while  Metronic Global Bhd, also, rose half-a-sen to four sen. Velesto Energy Bhd grew 1.5 sen to 10 sen, SNS Network Technology Bhd ticked up 2.5 sen to 28.5 sen, and Tanco Holdings Bhd firmed two sen to 30.5 sen.

On the index board, the FBM Emas Index was 23.39 points higher at 10,651.61, the FBMT 100 Index rose 21.35 points to 10,396.8, the FBM 70 improved 71.28 points to 12,828.1, the FBM ACE garnered 4.3 points to 4,862.78 and the FBM Emas Shariah Index bagged 18.15 points to 10,711.63.

Sector-wise, the Energy Index added 8.29 points to 715.45, the Financial Services Index expanded 76.39 points to 16,893.57, the Plantation Index fell 25.24 points to 6,968.73 and the Industrial Products and Services Index eased 0.33 of-a-point to 185.27.