Bursa pares gains at midday

TheEdge Fri, Jul 08, 2022 12:53pm - 1 year View Original


KUALA LUMPUR (July 8): Bursa Malaysia pared its gains at midday on Friday (July 8) alongside its regional peers amid news of an assassination attempt on former Japanese prime minister Shinzo Abe.

At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.92 points to 1,424.61 from Thursday's close of 1,418.69.    

The benchmark index, which opened 2.57 points higher at 1,421.26, moved between 1,420.63 and 1,427.2 throughout the session.

The overall market breadth was positive with gainers outpacing losers 379 to 311, while 382 counters were unchanged, 1,168 untraded and eight others suspended.

Turnover stood at 966.3 million units worth RM538.44 million.

Japanese media reported that Abe was feared dead after apparently being shot at a campaign event in the Nara region.

National broadcaster NHK said a man in his 40s had been arrested for attempted murder and a gun had been confiscated from him, citing police sources.

SPI Asset Management managing partner Stephen Innes said the markets reacted to an apparent assassination attempt on Abe.

"This comes ahead of the Upper House election on July 10. If the former prime minister's Liberal Democratic Party continues to hold the advantage in the election, this morning's moves will likely prove temporary. The follow-through to Japanese equities and US dollar/yen is negative for now,” he said in a note on Friday.

Singapore's Straits Times Index went up 0.15% to 3,134.1, Japan's Nikkei 225 was 0.58% higher at 26,644.57 and Hong Kong's Hang Seng Index was slightly higher by 0.07% to 21,658.62.

Bursa Malaysia heavyweights Malayan Banking Bhd advanced four sen to RM8.62, Public Bank Bhd and IHH Healthcare Bhd added two sen each to RM4.38 and RM6.35 respectively, while Petronas Chemicals Group Bhd jumped eight sen to RM8.42, Petronas Gas Bhd was flat at RM16.40 and Tenaga Nasional Bhd eased one sen to RM7.95.

Of the actives, Metronic Global Bhd edged up half-a-sen to 9.5 sen, Yong Tai Bhd and Widad Group Bhd were flat at eight sen and 36.5 sen, and Jade Marvel Group Bhd was down half-a-sen to 86 sen.

On the index board, FBM Emas Index went up 35.05 points to 10,127.18, FBM Emas Shariah Index bagged 29.51 points to 10,182.08, FBM 70 improved 21.9 points to 12,183.93, FBM ACE went up 43.79 points to 4,647.79 and FBMT 100 Index increased 35.61 points to 9,884.44.

Sector-wise, the Financial Services Index expanded by 62.34 points to 16,059.59, the Industrial Products and Services Index was 0.66 of-a-point higher at 172.46, and the Plantation Index improved 19.45 points to 6,607.92.

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