KUALA LUMPUR, Jan 9 — Bursa Malaysia remained in positive territory at mid-day today as bargain hunting in index-linked stocks persisted after yesterday’s broad market sell down.

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,592.79, rising 3.69 points from yesterday’s close of 1,589.10.

After opening at 1,593.72, the key index moved between 1,591.58 and 1,599.01 throughout the morning session. 

Market breadth remained positive, with gainers leading losers 511 to 210, while 329 counters were unchanged, 895 untraded and 16 others suspended.  

Turnover amounted to 1.55 billion shares worth RM817.77 million. 

In a note today, Malacca Securities Sdn Bhd said after yesterday’s retreat, conditions on Bursa Malaysia were looking better today.

"Hence, mild bargain hunting may shore the key index towards the 1,600 psychological level or even towards the 1,615 level.

"At the same time, the immediate support is spotted at 1,575 level,” it said.

Meanwhile, Public Investment Bank Bhd said the local key index was also tracking the recovery in the overnight US stock markets, with the Nasdaq notching a new record close while Dow Jones benchmark index rose 0.56 per cent.

"The uptrend in the equity markets came after remarks by the US President Donald Trump who suggested the US and Iran were refraining from further military action following attacks on US bases overnight, in retaliation for last week’s assassination of Major General Qassem Soleimani by American forces,” it said in a note today.

Among heavyweights, Maybank rose seven sen to RM8.61, Digi increased eight sen to RM4.53, CIMB bagged five sen to RM5.22, IHH garnered four sen to RM5.59 and Hong Leong Financial was 26 sen higher at RM17.26.

The actives were led by Priceworth International, Vortex and its warrant, all of which were unchanged at three sen, 22 sen and 4.5 sen, respectively, Kronologi Asia perked 7.5 sen to 92 sen while Alam Maritim Resources went down 1.5 sen to 17 sen.

Top gainers included Panamy, which gained 42 sen to RM36.62, Heineken Malaysia and Aeon Credit rose 28 sen each to RM27.20 and RM13.90, Sam Engineering & Equipment improved 20 sen to RM8.06 and KLK was 18 sen better at RM24.68.

The FBM Emas Index strengthened 34.35 points to 11,340.02 and the FBM Emas Shariah Index was 19.76 points higher at 11,970.02.

The FBMT 100 Index increased 29.40 points to 11,137.20, the FBM 70 climbed 52.09 points to 14,212.89 and the FBM Ace put on 86.67 points to 5,467.32.

Sector-wise, the Financial Services Index rose 69.75 points to 15,522.59, the Plantation Index advanced 41.86 points to 7,682.52 but the Industrial Products and Services Index edged down 0.67 of-a-point to 153.90. — Bernama