KUALA LUMPUR, Nov 7 — Bursa Malaysia ended the morning session marginally higher with foreign funds seen showing better interest in local stocks and as the performance of global peers lent it some support.
At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 3.14 points to 1,711.974 from Monday's close of 1,708.80.
The index opened 3.91 points higher at 1,712.71 and moved between 1,708.71 and 1,715.98 throughout the session.
Maybank Investment Bank Bhd said the domestic market resumed trading on a stronger footing, amid the overnight recovery on global equity markets and after opening the week on a weaker note marked by a 5.07 points dip, in a knee-jerk reaction to the 2019 Budget announcement.
“Technically, we expect the FBM KLCI to range between 1,700 and 1,720 today and downside supports at 1,680 and 1,660,” it said.
Bursa Malaysia was closed yesterday for the Deepavali holiday.
MIDF Amanah Investment Bank Bhd reported that international funds were net buyers of Malaysian shares last week with a net purchase of RM322.7 million worth of equities after four straight weeks of selling.
On Bursa Malaysia's broader market, gainers were slightly higher than losers at 373 to 318, with 317 counters unchanged, 845 untraded and 19 others suspended.
Volume stood at 1.46 billion units valued at RM1.30 billion.
Among heavyweights, PBBank added two sen to RM24.60, Tenaga bagged eight sen for RM14.88, PChem was flat at RM9.70 and Maybank eased 15 sen to RM9.23.
For actives, SaNRG and DSonic both gained 2.5 sen to 38 sen and 47.5 sen respectively, GENM added five sen to RM3.66, while Pesona inched up half-a-sen to 26 sen.
The FBM Emas Shariah Index was up 48.61 points to 12,031.74 and the FBM 70 was 31.29 points higher at 13,832.38.
The FBM Emas Index improved 25.13 points to 11,864.90, the FBMT 100 Index rose 22.64 points to 11,705.60 and the FBM Ace Index gained 26.32 points to 4,979.43.
Sectorwise, the Plantation Index declined 13.23 points to 7,388.23 and the Financial Services Index dropped 54.08 points to 17,197.22, but the Industrial Products and Services Index inched-up 0.35 of a point to 174.88. – Bernama
