KUALA LUMPUR, Feb 7 — Bursa Malaysia was positive at mid-day as buying momentum picked up in selected heavyweights and index-linked counters, amid mixed trends on regional bourses, dealers said.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 6.52 points higher at 1,690.13 from Monday's close of 1,683.61.
The index opened 4.39 points firmer at 1,688 and moved between 1,685.66 and 1,691.58 throughout the session.
Market breadth was positive with gainers outpacing losers 333 to 242, while 276 counters were unchanged, 1,003 untraded and 24 others suspended.
Maybank IB Research said in a note, easing concerns over interest rate hikes led to a relief rally in global equities, with domestic sentiment focused on the upcoming corporate earnings announcements.
“Technically, we expect the FBM KLCI to range between 1,680 and 1,710 today, while the downside supports are at 1,658 and 1,644,” it said.
“We expect a consolidation in the near-term with the bias now gradually turning upwards,” said MaybankIB Research.
Among the heavyweights on Bursa Malaysia, Maybank was three sen higher at RM9.60, Public Bank rose two sen to RM24.84, Tenaga increased 22 sen each to RM13.16, while Petronas Chemicals and Hong Leong Bank were flat at RM8.45 and RM20.80 respectively.
Of the most actives, Seacera and Permaju Industries improved 1.5 sen each to 26.5 sen and 38 sen respectively, Sino Hua-An gained two sen to 19.5 sen and VS Industry rose 2.5 sen to 84 sen.
The FBM Emas Index was 49.5 points firmer at 11,722.64, the FBMT 100 Index added 46.6 points to 11,603.03 and the FBM Emas Shariah Index increased 57.97 points to 11,601.12.
The FBM Ace Index advanced 10.79 points to 4,483.97 and the FBM 70 gained 63.6 points to 13,938.59.
Sectorwise, the Financial Services Index was 50.03 points better at 17,619.85, the Industrial Products and Services Index was 0.06 of-a-point better at 161.48 and the Plantation Index increased 40.65 points to 7,309.36. — Bernama
