KUALA LUMPUR, July 2 ― Bursa Malaysia continued its uptrend to near the resistance level of 1,690 at mid-day today amid positive investor sentiment.
A dealer said the temporary trade truce between the US and China had brought relief to investors, making Bursa Malaysia one of the stock markets enjoying the global equities rally.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) perked 5.21 points to 1,688.83 from 1,683.62 at yesterday's closing.
The index moved between 1,684.06 and 1,694.55 in the morning session.
However, market breadth was slightly negative with 384 losers to 377 gainers, with 356 counters unchanged, 721 untraded and 19 others suspended.
Turnover stood at 1.61 billion units worth RM1.19 million.
In a note today, Malacca Securities Sdn Bhd set the resistance levels at 1,690 and 1,670, with supports at 1,680 and 1,670 respectively, after taking into account that quick profit taking activities could temper the potential near-term gains, following the US-China trade truce announcement.
Among heavyweights, Tenaga leapt 10 sen to RM14.06, Maybank bagged four sen to RM8.95, Maxis increased five sen to RM5.62, Hong Leong rose 32 sen to RM18.84 and MISC was eight sen higher at RM7.29.
Of actives, KNM fell 1.5 sen to 28 sen, Compugates and Bumi Armada eased half-a-sen each to two sen and 22 sen respectively, IWCITY lost one sen to RM1.10, while Ekovst was unchanged at 88.5 sen.
Nestle topped the gainers list, bagging 60 sen to RM149.00, while Dutch Lady was the top loser, losing 40 sen to RM63.50.
The FBM Emas Index gained 41.14 points to 11,926.30, the FBMT 100 Index increased 42.77 points to 11,770.34 and the FBM Emas Shariah Index was 32.44 better at 12,298.52.
The FBM 70 improved 80.43 points to 14,865.35 and the FBM Ace gained 12.37 points to 4,550.20.
Sector-wise, the Financial Services Index strengthened 75.87 points to 16,848.79, but the Industrial Products & Services Index edged down 0.67 of-a-point to 162.85 and the Plantation Index eased 31.17 points to 6,947.11. ― Bernama
