Bursa Malaysia stays higher at mid-day

Shares on Bursa Malaysia remained higher at mid-day today. — Bernama pic
Shares on Bursa Malaysia remained higher at mid-day today. — Bernama pic

KUALA LUMPUR, April 8 — Shares on Bursa Malaysia remained higher at mid-day today on continuous buying in selective heavyweights and bluechips mainly from plantation, energy and consumer counters.

However, gains were limited by losses recorded in the financial sector, which further widened towards the noon break.

At 12.30pm, the key FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.37 points to 1,643.18 from Friday’s close of 1,641.81.

The index fluctuated between 1,645.72 and 1,641.04 throughout the morning session.  

On the scoreboard, gainers outnumbered decliners by 405 to 374, while 351 counters were unchanged, 716 untraded and 21 others suspended.

Turnover amounted to 2.13 billion shares worth RM1.08 billion.

An analyst said plantation and energy counters got a boost from the steady Brent oil prices, currently hovering above US$70 per barrel.

“Overall, the positive US and regional stocks markets, trade optimism and higher Brent Crude oil prices, helped lift some buying interest,” he said.

The US shares ended on a strong note on Friday on trade hopes and a bounce in the US March’s payrolls numbers after the Bureau of Labor Statistics reported the U.S. economy added 196,000 jobs in March.

Of the other heavyweights, Maybank was flat at RM9.26, Public Bank dropped 12 sen to RM22.76, CIMB was one sen lower at RM5.10 and Hong Leong Bank went down 10 sen to RM20.10.

Meanwhile, PetChem added two sen to RM9.12 while Petronas Gas improved 10 sen to RM17.62.

Sime Darby remained unchanged at RM5.15, KLK increased 24 sen to RM25.00 and IOI Corp went up four sen to RM4.52.

Among consumer counters, Nestle surged RM1 to RM146.50 while PPB added 28 sen to RM18.78.

Among actives, Sapura Energy, Priceworth International and KNM each gained half a sen to 36 sen, 7.5 sen and 17 sen, respectively 

The FBM Emas Index inched up 31.22 points to 11,632.08, the FBMT100 Index appreciated 27.63 points to 11,465.26 and the FBM Emas Shariah Index was 61.0 points higher at 11,848.46. 

The FBM Ace Index widened 0.74 of a point to 4,816.35 while the FBM70 jumped 107.99 points to 14,532.53.

Sector-wise, the Financial Services Index erased 24.74 points to 16,863.98, the Plantation Index was 39.26 points stronger at 7,275.81 and the Industrial Products and Services Index added 0.43 point to 169.70. — Bernama