KUALA LUMPUR, Dec 13 — Bursa Malaysia extended gains at mid-afternoon as trade optimism continues, after news that the US has agreed in principle to the terms of a phase one trade deal with China.

At 3pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 7.0 points to 1,574.34 driven by gains in heavyweights led by Petronas Chemicals (PChem) and Tenaga.

The index opened 9.17 points better at 1,576.51 versus 1,567.34 recorded at yesterday’s close.

Market breadth was positive as advancers outpaced decliners 409 to 347, while 378 counters were unchanged, 846 untraded and 18 others suspended. 

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Turnover amounted to 1.88 billion shares worth RM1.17 billion.

In addition, investors also cheered the positive news from the UK election.

It was reported that Britain’s Conservative Party, led by Prime Minister Boris Johnson, has won the early general election after securing more than 363 seats in the House of Commons, according to results declared in 648 out of 650 constituencies at press time.

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Among heavyweights, PChem was 14 sen higher at RM7.17, Tenaga rose 12 sen to RM13.26, Sime Darby Plantation added six sen to RM5.36 and Petronas Gas went up 30 sen to RM16.70.

Hong Leong Bank increased 22 sen to RM16.98 and MISC improved seven sen to RM8.48.

Of the actives, Ekovest added 10 sen to 91 sen, Iskandar Waterfront rose 12.4 sen to RM1.03 and Dynaciate edged down one sen to 7.5 sen.

The FBM Emas Index added 48.21 points to 11,207.24 and the FBM Emas Shariah Index rose 71.60 points to 11,864.73 while the FBMT 100 Index went up 48.75 points to 11,007.93.

The FBM Ace declined 0.03 of-a-point to 4,975.63 and the FBM 70 expanded 61.56 points to 14,046.98.

Sector-wise, the Financial Services Index put on 60.62 points to 15,254.76, the Industrial Products and Services Index edged up 1.30 points to 151.96 and the Plantation Index advanced 23.94 points to 7,524.26. — Bernama