Bursa mixed at midday, KLCI up 6.71 points

TheEdge Fri, Jul 01, 2022 12:58pm - 1 year View Original


KUALA LUMPUR (July 1): Bursa Malaysia was mixed at midday on continuous buying support for selective heavyweights, while profit-taking was also seen mainly in healthcare and energy stocks, analysts said. 

At 12.30pm on Friday (July 1), the FBM KLCI was 0.46% or 6.71 points higher at 1,450.93 from Thursday's close at 1,444.22. 

The benchmark index, which opened 2.60 points easier at 1,441.62, moved between 1,441.62 and 1,452.32 throughout the morning trading session.

Overall market breadth was negative with losers leading gainers 410 to 233, while 329 counters were unchanged, 1,257 untraded and nine others suspended.

Turnover stood at 838.52 million units worth RM555.86 million.

Malacca Securities Sdn Bhd said that the weaker sentiment following Wall Street’s steep decline during the final trading session of the first half of 2022 (1H22) is likely to spill over to regional markets as well as the local bourse.

It also noted that inflation and recession concerns continued to ripple through the market. 

“The banking sector could stay in focus in 2H22 amid an interest rate upcycle environment, and we are also still positive on selected consumer and real estate investment trust stocks as we expect pent-up consumer spending to be sustained at least in the near term.

“Meanwhile, the technology sector may witness further selling pressure, tracking the overnight slump on Wall Street,” the brokerage firm said in a note on Friday.

Among the heavyweights, Digi.Com Bhd added 16 sen to RM3.66, CIMB Group Holdings Bhd advanced nine sen to RM5.05 and  Petronas Chemicals Group Bhd improved 11 sen to RM9.11, while Top Glove Corp Bhd eased three sen to RM1.01.

Malayan Banking Bhd (Maybank) perked two sen to RM8.61, Public Bank Bhd increased four sen to RM4.41 and IHH Healthcare Bhd bagged four sen to RM6.49.

Of the actives, Yong Tai Bhd and Jade Marvel Group Bhd were flat each at nine sen and 65.5 sen respectively, Cypark Resources Bhd added one sen to 35.5 sen and Sedania Innovator Bhd improved 2.4 sen to 53 sen, while Hibiscus Petroleum Bhd was down by three sen to 97 sen. 

On the index board, the FBM Emas Index appreciated 14.64 points to 10,321.90, the FBM Emas Shariah Index shed 9.72 points to 10,494.25, FBM 70 fell 84.19 points to 12,409.02, FBM ACE increased 12.49 points to 4,763.87 and the FBMT 100 Index grew 19.60 points to 10,067.10.

Sector-wise, the Financial Services Index advanced 71.27 points to 16,055.45, the Industrial Products and Services Index was 0.06 of a point better at 181.64, and the Plantation Index gained 43.26 points to 6,944.09.

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