KUALA LUMPUR, Feb 4 ― Bursa Malaysia ended the morning session higher, surging 1.23 per cent as bargain hunting activities continued throughout the session in almost all index-linked counters, analysts said.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) advanced 18.83 points to 1,540.78 from Monday's close of 1,521.95.
The benchmark index opened 6.37 points better at 1,528.32 and moved between 1,527.70 and 1,542.59.
On the broader market, gainers led losers 511 to 296, with 322 counters unchanged, 832 untraded and 21 others suspended.
Turnover amounted to 1.72 billion shares worth RM1.07 billion.
An analyst said the local stock market was also tracking its regional peers which have also rebounded as the Chinese market managed to pare some of its losses amid efforts to calm worries over the 2019 Novel Coronavirus (2019-nCoV) outbreak.
Yesterday, China's central bank injected 1.2 trillion yuan (US$174 billion) worth of liquidity into the financial markets via reverse repo operations in an effort to allay growing fears over possible economic repercussion from the viral outbreak.
Meanwhile, Maybank IB Research said bargain hunting is expected to continue following an overnight rebound in US markets with interest possibly pointing to technology names.
“Technically, we expect the FBM KLCI to range between 1,500 and 1,550 today. Downside supports are at 1,515 and 1,500,” it said in a research note today.
Among heavyweights, Petronas Chemicals appreciated 25 sen to RM6.41, AMMB Holdings rose 11 sen to RM3.80, PMetal gained 13 sen to RM5.03, Maxis added 14 sen to RM5.50 and PetGas perked 34 sen to RM16.26.
Of actives, AirAsia Group fell 11 sen to RM1.17, DGB increased one sen to 11 sen while Bumi Armada and Sapura Energy each lost half-a-sen to 38.5 sen and 24 sen.
On the index board, the FBM Emas Index increased 123.74 points to 10,932.26, the FBM Emas Shariah Index rose 147.26 points to 11,610.11 and the FBMT 100 Index bagged 121.64 points to 10,745.74.
The FBM 70 was 114.00 points firmer at 13,599.31 and the FBM Ace recovered 73.31 points to 5,406.67.
Sector-wise, the Industrial Products and Services Index inched up 2.31 points to 144.55, the Financial Services Index was 146.67 points better at 14,804.15 and the Plantation Index added 64.74 points to 7,141.56. ― Bernama
