KL shares higher at midday

Like most Asian markets, Bursa Malaysia rebounded on news that Washington and Beijing are on track for a preliminary trade deal. — Picture by Razak Ghazali
Like most Asian markets, Bursa Malaysia rebounded on news that Washington and Beijing are on track for a preliminary trade deal. — Picture by Razak Ghazali

KUALA LUMPUR, Dec 5 — Bursa Malaysia ended the morning session higher today, in line with most regional markets as the bullish outlook on the global economy triggered buying interest, dealers said.

At 12.30 pm, the benchmark FTSE Bursa Malaysia KCLI (FBM KLCI) rose 2.86 points or 0.18 per cent to 1,563.79 from yesterday’s close of 1,560.93, after moving between 1,560.13 and 1,564.78 throughout the session.

It opened 1.01 point higher at 1,561.94.

On the broader market, there were 443 gainers and 269 losers, with 335 counters unchanged, 922 untraded and 18 others suspended.

Turnover amounted to 1.24 billion shares worth RM693.78 million.

A dealer said Asian stocks mostly rebounded from yesterday's losses, boosted by news that Washington and Beijing are on track for a preliminary trade deal, despite lingering uncertainties over prospects for a truce in the tariff war, which has now entered the second year.

He said, investors reacted positively on a Bloomberg report yesterday which claimed that both countries are inching closer to an agreement on the number of tariffs roll back in “phase one” trade deal.

A statement by US President Donald Trump that negotiations with China are progressing “very well,” also provided a further boost to riskier assets.

Meanwhile, at the end of the morning session, heavyweight Maybank inched four sen higher at RM8.54, Public Bank jumped 18 sen to RM19.48, TNB slipped 14 sen to RM13.26, Petronas Chemicals fell eight sen to RM7.02 while CIMB was flat at RM5.15.

Of the actives, Sapura Energy earned half-a-sen to 27.5 sen, Khee San gained 5.5 sen to 41 sen, Parlo improved two sen to 13.5 sen while Solarvest added 3.5 sen to 90.5 sen.

The FBM Emas Index advanced 27.77 points to 11,098.75, the FBMT 100 Index increased 25.76 points to 10,910.09, the FBM Emas Shariah Index perked 22.65 points to 11,634.50, the FBM Ace rose 25.32 points to 4,834.05 and the FBM 70 bagged 56.28 points to 13,823.12.

Sector-wise, the Financial Services Index went up 35.05 points to 15,277.82, the Plantation Index secured 87.55 points to 7,210.75 and the Industrial Products & Services Index eased 0.58 of-a-point to 148.78. — Bernama

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