(Updated)

Bursa Malaysia ends higher at midday

Bursa Malaysia ends higher at midday
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KUALA LUMPUR (May 20): Bursa Malaysia ended the morning session higher on continued buying interest in selected heavyweights led by Press Metal Aluminium Holdings Bhd, Axiata Group Bhd and Maxis Bhd.

Press Metal gained 13 sen to RM5.21, Axiata bagged eight sen to RM3.25 and Maxis rose six sen to RM3.64. The three stocks lifted the composite index by a total contribution of 3.935 points.

At the lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.8 points or 0.12% to 1,551.21 from Thursday’s close of 1,549.41.

The benchmark index, which opened 2.97 points higher at 1,552.38, moved between 1,551.15 and 1,558.51 throughout the morning session.

On the broader market, gainers led losers 458 to 300, while 407 counters were unchanged, 1,116 untraded, and 22 others suspended.

Turnover stood at 1.23 billion units worth RM822.06 million.

The better performance of the local bourse was in line with its regional peers, with Singapore’s Straits Times gaining 1.29% to 3,231.77, China’s Shanghai Stock Exchange rising 1.11% to 3,131.4, Japan’s Nikkei bagging 1.19% to 26,718.24, Hong Kong’s Hang Seng increasing 1.83% to 20,489.63 and South Korea’s Kospi improving 1.74% to 2,637.43.

Rakuten Trade Sdn Bhd equity research vice president Thong Pak Leng said the index could remain stuck within its consolidation mode of between 1,540 and 1,555 on Friday, as uncertainties continue to dictate sentiments.

Among the heavyweights, Malayan Banking Bhd and Public Bank Bhd were one sen lower at RM8.97 and RM4.56 respectively, Petronas Chemicals Group Bhd went down three sen to RM9.99, while IHH Healthcare Bhd added two sen to RM6.60, and CIMB Group Holdings Bhd was flat at RM5.04.

Among the actives, Techna-X Bhd and Sapura Energy Bhd rose half-a-sen each to six sen and seven sen respectively, while Serba Dinamik Holdings Bhd and MNC Wireless Bhd were half-a-sen lower at 14 sen and two sen respectively and Widad Group Bhd was flat at 36 sen.

On the index board, FBM ACE improved 26.11 points to 5,314.28, FBM Emas Shariah Index increased 50.75 points to 11,521.4, FBM Emas Index was up 32.32 points to 11,078.59, FBMT 100 Index strengthened 27.47 points to 10,748.8, and FBM 70 advanced 94.95 points to 13,190.82.

Sector-wise, the Industrial Products and Services Index was 1.83 points higher at 198.92, the Financial Services Index added 2.43 points to 16,596.14, while the Plantation Index dropped 50.27 points to 8,187.06.