KUALA LUMPUR, June 2 — Bursa Malaysia finished the morning session on a positive note in line with Asian shares following the encouraging factory activities in countries such as China, coupled with the agreement reached by the Organisation of the Petroleum Exporting Countries (Opec) and non-Opec partners to gradually ease production cuts amid expected higher crude oil demand.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) grew 8.58 points, or 0.54 per cent, to 1,594.48 from 1,585.90 at Tuesday’s close.
The index opened 0.43 point weaker at 1,585.47 — the lowest so far today — before climbing as high as 1,596.08 during the morning session.
Market breadth was positive with gainers outpacing losers 637 to 344, while 392 counters were unchanged, 761 untraded, and 11 others suspended.
Total volume stood at 4.20 billion units worth RM2.16 billion.
Market breadth was positive with gainers outpacing losers 637 to 344, while 392 counters were unchanged, 761 untraded, and 11 others suspended.
Total volume stood at 4.20 billion units worth RM2.16 billion.
Rakuten Trade Sdn Bhd said yesterday’s uptrend was expected to continue today based on the belief that foreign funds were trickling into Asia.
“We notice foreign funds were net buyers yesterday and we expect the index to trend within the 1,585-1,595 range today,” it said in a note today.
Meanwhile, a dealer said that the encouraging factory data in China was seen to support Malaysia’s external demand and cushion any weakness from the domestic demand side.
“We foresee this current momentum will sustain for the week provided that daily vaccination doses are well sustained above 90,000 doses per day,” he told Bernama.
Chinese factory activity slowed slightly in May versus the preceding month on weaker export demand and higher commodity prices. Nevertheless, the country’s non-manufacturing sector was bolstered by stronger construction and holiday spending.
Almost all of the 30 index-linked heavyweights were trading higher at midday. Soon to announce their partnership, Axiata and RHB saw their shares increase by nine sen to RM3.81 and by 14 sen to RM5.44, respectively.
CIMB added seven sen to RM4.52 and Digi.Com was six sen higher at RM4.29.
Top gainers were F&N, which expanded eight sen to RM27, Hong Leong Industries which climbed 43 sen to RM10.32 and Dutch Lady which rose 40 sen to RM34.50.
Of the actives, Serba Dinamik gained three sen to 86.5 sen and Vortex added one sen to 11 sen.
On the index board, the FBM Emas Index grew 81.66 points to 11,597.57 and the FBMT 100 Index swelled 73.96 points to 11,292.08.
The FBM Emas Shariah Index rose 76.35 points to 12,829.03, the FBM 70 picked up 149.36 points to 14,949.33 and the FBM ACE inched up 1.96 points to 7,719.11.
Sector-wise, the Financial Services Index increased 120.74 points to 15,205.64, the Industrial Products and Services Index edged up 1.65 points to 192.90 and the Plantation Index was 10.51 points better at 6,842.44. — Bernama
