KUALA LUMPUR, Nov 25 — Bursa Malaysia continued to gain momentum across the board at midday, reversing earlier losses, driven by global positive momentum on equities as well as futures.
At lunch break, the benchmark index FTSE Bursa Malaysia KLCI (FBM KLCI) was 15.44 points higher at 1,593.83 compared with yesterday’s close of 1,578.39.
The market opened 3.92 points higher at 1,582.31.
Gainers surpassed losers 650 to 378, while 717 counters were unchanged, 431 untraded and 24 others suspended.
Total volume stood at 5.24 billion worth RM2.29 billion.
An analyst said the positive momentum was driven by positive gains of US stocks, especially S&P500 and Dow Jones Industrial Average, pushing other Asian stocks higher as well.
“As US political dust has settled and the transition to Joe Biden’s presidency has begun, investors have higher confidence on trade future, especially involving better ties between the US and China,” she said.
On Bursa Malaysia, cyclical sectors on the FBM KLCI recorded gains led by Public Bank, which added 46 sen to RM18.84, Telekom Malaysia rose 15 sen to RM4.75, Maybank inched up eight sen to RM8.21, and Press Metal added 25 sen to RM6.35.
Among the actives, Sapura Energy added one sen to 12.5 sen, AT Systematization and KNM added 1.5 sen to 17 sen and 21 sen, respectively.
On the index board, the FBM Emas Index was 103.44 points higher at 11,429.16, the FBMT 100 Index improved 101.36 points to 11,217.05, the FBM Emas Shariah Index jumped 63.53 points to 13,076.79, and the FBM 70 surged 103.06 points to 14,576.80.
The FBM ACE climbed 179.99 points to 10,666.11, the Industrial Products and Services Index added 0.93 of-a-point to 158.61, the Plantation Index added 19.65 points to 7,287.98, and the Financial Services Index gained 248.48 points to 14,1218.90. — Bernama
