KUALA LUMPUR, Nov 2 ― Bursa Malaysia remained higher at mid-morning as investors continued to be in a risk-on mode.

At 11.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,447.01, up 1.09 points from yesterday's close of 1,445.92.

The market bellwether opened 5.06 points higher at 1,450.98.

On the broader market, gainers outpaced losers 320 to 303, while 344 counters were unchanged, 1,351 untraded, and 13 others suspended.

Turnover stood at 901.63 billion units valued at RM535.23 million.

Malacca Securities Sdn Bhd said the local bourse was set for another profit-taking episode as investors might brace for the potential interest rate hike by Bank Negara Malaysia.

"As for the sector focus, we believe demand for Malaysian crude palm oil (CPO) may improve and that will benefit the plantation counters amid firmer CPO futures price.

"Meanwhile, the construction, building material and banking sectors may shine prior to the 15th General Election (GE15) as investors position themselves for the GE15 and Budget 2023 themes,” the brokerage said in a note.

Yesterday, Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz remarked that there might be adjustments made to Budget 2023 during its re-tabling.

Heavyweights Maybank and Tenaga Nasional both lost 1.0 sen to RM8.53 and RM8.39, respectively, while CIMB was unchanged at RM5.48.

Both Public Bank and Petronas Chemicals added 3.0 sen each to RM4.44 and RM8.66, respectively.

Among the actives, Saudee gained 1.0 sen to 4.0 sen, Opcom increased 5.5 sen to 95.5 sen, and Shin Yang went up 3.5 sen to 92.5 sen. KNM and MYEG were flat at 4.0 sen and 89 sen, respectively.

On the index board, the FBM Emas Index advanced 6.44 points to 10,273.57, the FBMT 100 Index bagged 4.78 points to 10,006.90, and the FBM Emas Shariah Index was 7.27 points higher at 10,342.97.

The FBM 70 declined 5.30 points to 12,203.28 and the FBM ACE eased 24.44 points to 4,853.58.

Sector-wise, the Industrial Products and Services Index edged up 0.55 of a point to 175.22, the Financial Services Index dropped 16.43 points to 16,295.87, and the Plantation Index slipped 4.86 points to 6,788.07. ― Bernama