KUALA LUMPUR, May 22 — Bursa Malaysia remained higher at mid-morning today, supported by extended gains in oil prices, but trading was cautious, dealers said.
At 11.04am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 1.01 points to 1,769.29 after opening 3.87 points higher at 1,772.15. It closed on last Friday at 1,768.98.
On the broader market, gainers led losers 485 to 324, while 355 counters were unchanged, 585 untraded and 20 others suspended.
Turnover stood at 1.74 billion shares worth RM828.73 million.
A dealer said crude oil prices which stayed above US$50 (RM217.35) a barrel, on expectations of a supply cut being further extended, is seen as supporting Asian stocks.
"While stocks should further recover today in taking cue also from Friday’s US markets rebound, a cautious undertone still prevails, as investors question the sustainability of US President Donald Trump’s market reforms," he added.
For heavyweights, Sime Darby gained 2 sen to RM9.33, Petronas Chemical improved 1 sen to RM7.34, Maybank shed 3 sen to RM9.32, while TNB and Public Bank were flat at RM13.78 and RM20.00 respectively.
Of the actives, Key Alliance Group added 1 sen to 5 sen, AirAsia X rose 2.5 sen to 53.5 sen, while Key Alliance warrant, Dagang Nexchange warrant and Frontken gained 0.5 sen each to 3 sen, 34 sen and 29 sen.
The FBM Emas Index rose 22.91 points to 12,708.79, the FBMT 100 Index increased 18.89 points to 12,326.06 and the FBM Emas Shariah Index improved 37.64 points to 13,047.13.
The FBM 70 jumped 67.72 points to 15,381.68 and the FBM Ace rose advanced 62.34 points to 6,664.05.
On a sectoral basis, the Industrial Index increased 10.58 points to 3,272.80, the Plantation Index was 5.50 points higher at 8,071.55, but the Finance Index shed 6.71 points to 16,348.61. — Bernama
