Bursa Malaysia ends morning trading higher

Bursa Malaysia ends morning trading higher
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KUALA LUMPUR (May 13): Bursa Malaysia ended Friday's (May 13) morning trading session in the positive territory, driven by encouraging gross domestic product (GDP) data and economic outlook, coupled with improving regional markets’ performance, an analyst said.

In a press conference on Friday, Bank Negara Malaysia announced that Malaysia’s economy has rebounded in the first quarter of 2022 (1Q22), registering a 5% growth versus a contraction of 0.5% in 1Q21. 

At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 11.64 points to 1,550.44 from Thursday’s close of 1,538.8.

The barometer index, which opened 7.18 points higher at 1,545.98, moved steadily between 1,541.15 and 1,551.22 throughout the session.

On the broader market, gainers surpassed losers 509 to 303, while 388 counters were unchanged, 1,043 untraded and 19 others suspended.

Total turnover stood at 1.43 billion units worth RM1.13 billion.

OANDA senior market analyst Asia Pacific Jeffrey Halley said Asian equities are staging a relief rally on Friday after Wall Street stabilised late in the session.

At press time, Japan's Nikkei 225 strengthened by 2.48% to 26,386.57, Singapore’s Straits Times Index edged up 1.1% to 3,200.05, and Hong Kong's Hang Seng Index improved 2% to 19,767.36.

Back home, Bursa heavyweights Malayan Banking Bhd eased six sen to RM9.01 and Public Bank Bhd was down by four sen to RM4.59, while Petronas Chemicals Group Bhd gained 11 sen to RM9.98, Press Metal Aluminium Holdings Bhd rose 36 sen to RM5.16, and Sime Darby Plantation Bhd gained 20 sen to RM5.10.

Of the actives, MNC Wireless Bhd added one sen to three sen, both Serba Dinamik Holdings Bhd and Yong Tai Bhd added half-a-sen to nine sen and 10.5 sen, respectively, while Techna-X Bhd fell half-a-sen to 11 sen.

On the index board, FBM ACE improved 23.82 points to 5,253.6, FBM Emas Index advanced 73.53 points to 11,026.57, FBMT 100 Index firmed 67.94 points to 10,708.42, FBM Emas Shariah Index ticked up 152.02 points to 11,453.8, and FBM 70 added 31.33 points to 12,998.17.

Sector-wise, the Financial Services Index contracted 73.22 points to 16,628.26, while the Industrial Products and Services Index was 3.77 points higher at 197.24, and the Plantation Index climbed 154.15 points to 8,176.04.