KUALA LUMPUR (Jan 8): Bursa Malaysia continued to trade higher at midday, supported by buying activities in selected heavyweights led by the utilities sector.

YTL Power International Bhd added 18 sen to RM3.40 and YTL Corporation Bhd edged up six sen to RM2.28.

Both stocks pulled the composite index up by a combined 3.5 points.

At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 0.55% or 8.18 points to 1,495.79 from last Friday’s close of 1,487.61.

The benchmark index opened 0.99 points better at 1,488.60 and moved between 1,488.60 and 1,496.89 throughout the morning session.

On the broader market, gainers led decliners 635 to 401, while 394 counters were unchanged, 790 untraded and 19 suspended.

Turnover amounted to 4.32 billion units worth RM2.17 billion.

In a note on Monday, Malacca Securities Sdn Bhd said despite the possibility of profit-taking activities emerging on the broader market, trading interest may continue within selected sectors such as the technology sector as the sector just had a flag breakout last week.

“Also, we still like the Johor theme on the Kuala Lumpur-Singapore High-Speed Rail to have more clarity after the request for information (RFI) deadline by Jan 15; benefiting the property, construction, building material and utilities sectors,” said the brokerage firm.

It also said that the disruption of shipping and logistics following the Red Sea conflict may provide upside potential for the transportation sector.

On Bursa Malaysia, among other heavyweights, Public Bank Bhd put on three sen to RM4.36, Sime Darby Bhd went up six sen to RM2.40, while Petronas Dagangan Bhd slid 12 sen to RM21 and MR DIY Group (M) Bhd lost one sen to RM1.48.

Of the actives, Ta Win Holdings Bhd perked up by half-a-sen to 4.5 sen, Ekovest Bhd recovered by 5.5 sen to 61 sen, Minetech Resources Bhd advanced one sen to 22.5 sen, while Hong Seng Consolidated Bhd was flat at three sen and MQ Technology Bhd was unchanged at 2.5 sen.

On the index board, the FBM ACE Index expanded 12.53 points to 5,450.80, the FBM Emas Index was 74.17 points higher at 11,171.39, the FBMT 100 Index garnered 67.91 points to 10,812.28, the FBM 70 Index jumped 131.28 points to 15,191.15 and the FBM Emas Shariah Index climbed 63.17 points to 11,295.31.

Sector-wise, the Property Index improved by 10.51 points to 936.27, the Energy Index put on 9.02 points to 848.84, the Industrial Products and Services Index rose 1.45 points to 178.44, the Financial Services Index strengthened 96.71 points to 16,679.04 and the Plantation Index was 14.03 points firmer at 7,044.95.