KUALA LUMPUR, Nov 27 ― The FBM KLCI ended the morning session higher, lifted by buying interest in heavyweights and in line with regional markets amid positive signals on the easing United States (US)-China trade war.
At 12.30pm, the benchmark FTSE Bursa Malaysia KCLI (FBM KLCI) rose 5.01 points to 1,588.88 from yesterday’s close of 1,583.87, after moving between 1,582.46 and 1,590.51 during the session.
It opened 3.77 points higher at 1,587.64.
US President Donald Trump said that the US and China are moving closer to the first phase of a trade deal after top negotiators from both countries agreed to keep working to resolve the remaining issues.
Axicorp chief Asia market strategist Stephen Innes however noted that the imposition of the 15 per cent tariffs on US$160 billion worth of Chinese imports, which is set for Dec 15, sits ominously.
“If the deal can't get signed ahead of that date, an announcement of the tariff deferral would ultimately provide a high degree of reassurance that an agreement is in its final throes,” he said in a note today.
Bursa Malaysia’s market breadth was negative as losers outpaced gainers 442 to 294, while 345 counters were unchanged, 933 untraded and 22 others suspended.
Turnover amounted to 1.47 billion shares worth RM769.0 million.
Among the heavyweights, TNB appreciated 16 sen to RM13.56, Public Bank strengthened by 30 sen to RM19.80, Petronas Chemicals gained five sen to RM7.10, IHH Healthcare added two sen to RM5.42, Maxis increased eight sen to RM5.44, Maybank fell two sen to RM8.57 and CIMB eased one sen to RM5.26.
Of the actives, Solarvest expanded by 8.5 sen to 84 sen, Iris rose one sen to 15 sen, Alam Maritim and Bumi Armada were one sen higher at 14 sen and 53 sen, respectively, while KNM improved three sen to 39 sen and Netx was flat at two sen.
The FBM Emas Index widened 19.49 points to 11,269.02, the FBMT 100 Index improved 19.67 points to 11,084.52, the FBM Emas Shariah Index increased 6.0 points to 11,818.82, the FBM Ace went up 33.38 points to 4,837.36 and the FBM 70 depreciated 37.99 points to 14,041.66.
Sector-wise, the Financial Services Index went up 47.01 points to 15,479.44, the Plantation Index rose 8.02 points to 7,140.4 and the Industrial Products & Services Index eased 0.13 of-a-point to 151.48. ― Bernama
