Bursa higher at midday as regional bourses advance

Bursa higher at midday as regional bourses advance
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KUALA LUMPUR (Jan 13): Bursa Malaysia ended the morning session higher on bargain-hunting activities, in tandem with the uptrend in regional stock markets, as investors bought shares mainly in the logistics, energy and technology sectors, according to a dealer.

At Friday's (Jan 13) lunch break, the benchmark FBM KLCI had climbed by 3.04 points to 1,491.70, from Thursday's close at 1,488.66.

The market bellwether, which opened 0.61 of a point weaker at 1,488.05, moved between 1,488.05 and 1,494.53 throughout the morning session. 

Meanwhile, market breadth was also positive, with gainers outpacing losers 397 versus 365, while 403 counters were unchanged, 1,037 untraded, and 20 others suspended.

Turnover amounted to 2.07 billion units worth RM955.81 million.

According to Malacca Securities Sdn Bhd, the optimism on Wall Street overnight, coupled with the higher Brent crude oil price of around US$84 per barrel, could lift the sentiment on the local bourse.

"Investors may seek bargain-hunting opportunities within the technology sector, amid the persistent uptrend on Wall Street," it said in a note on Friday.

Meanwhile, the brokerage also anticipated interest to continue in tourism and consumer stocks amid a strong rebound in travel demand.

“Energy stocks may gain momentum amid firmer crude oil prices,” it said. 

Among the heavyweights, MISC Bhd added four sen to RM7.29 a share, Dialog Group Bhd increased one sen to RM2.60, Malayan Banking Bhd (Maybank) gained two sen to RM8.82, Public Bank Bhd was flat at RM4.31, while Inari Amertron Bhd shed four sen to RM2.64.

As for the actives, Serba Dinamik Holdings Bhd at 2.5 sen and Velesto Energy Bhd at 17.5 sen had climbed 1.5 sen each, NationGate Holdings Bhd gained six sen to RM1.06, Zen Tech International Bhd picked up one sen to 3.5 sen, while AT Systematization Bhd was unchanged at one sen.

On the index board, the FBM Emas Index earned 24.75 points to 10,767.51, the FBMT 100 Index advanced 22.57 points to 10,463.65, the FBM Emas Shariah Index inched up 18.26 points to 10,963.11, the FBM 70 Index climbed 34.09 points to 13,375.56, and the FBM ACE Index stronger 7.10 points to 5,435.73.  

Sector-wise, the Transportation and Logistics Index ticked up 14.52 points to 925.19, the Energy Index perked 6.83 points to 823.10, the Technology Index was up 0.31 of a point to 66.60, the Industrial Products and Services Index expanded 0.75 of a point to 184.56, and the Financial Services Index was 42.93 points higher at 16,580.62.

The Plantation Index slid 7.70 points to 6,914.92.