KUALA LUMPUR, Aug 11 ― Bursa Malaysia extended its uptrend to mid-morning amidst positive market sentiments across the region, with the benchmark index staying above the 1,500-mark.
At 11.02am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.39 points to 1,500.72 from 1,497.81 at yesterday's close, as two-thirds of the 30-index linked counters recorded gains.
On the broader market, gainers trumped losers 451 to 203, while 339 counters were unchanged, 1,290 untraded and 12 others suspended.
Turnover stood at 962.66 billion units valued at RM568.89 million.
Malacca Securities Sdn Bhd said the positive sentiment from the Wall Street, which rallied after the United States (US) inflation data came in below the consensus figure, might spill over to the local front, especially in the technology sector.
“Investors should expect a lower scale of interest rate hikes moving forward from the US Federal Reserves which provides a decent window of opportunity to at least trade until the next Consumer Price Index (CPI) data announcement scheduled on September 13,” the brokerage said in a note today.
The US’ CPI data, which measures inflation, came in at 8.5 per cent in July ― below the market’s forecast of 8.7 per cent ― suggesting that the country’s economy is recovering faster than expected.
Back home, Bursa heavyweights Maybank rose four sen to RM8.94, Public Bank and IHH Healthcare added one sen each to RM4.64 and RM6.43, respectively, Petronas Chemicals bagged eight sen to RM8.80, CIMB picked up three sen to RM5.33 and Tenaga improved five sen to RM8.48.
Of the actives, G3 Global was flat at 3.5 sen, Sapura Energy inched up half-a-sen to 5.5 sen and SFP increased 16 sen to RM1.10, while Green Packet and Cypark added one sen each to six sen and 45.5 sen, respectively.
On the index board, the FBM Emas Index advanced 77.31 points to 10,639.06, the FBMT 100 Index garnered 73.88 points to 10,388.04, the FBM ACE went up 67.85 points to 4,899.48, the FBM Emas Shariah Index soared 91.6 points to 10,760.9 and the FBM 70 surged 153.97 points to 12,706.07.
Sector-wise, the Financial Services Index was 88.83 points higher at 16,738.47, the Energy Index earned 8.42 points to 655.06 and the Plantation Index expanded 16.39 points to 7,140.26, while the Industrial Products and Services Index slipped 2.28 points to 183.23. ― Bernama
