KLCI stays higher at midday

TheEdge Mon, Mar 04, 2024 01:01pm - 1 month View Original

KUALA LUMPUR (March 4): Bursa Malaysia's benchmark index was higher at midday amid better sentiment on its regional peers, but the broader market was softer.

At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased 5.69 points to 1,543.71 from last Friday's close of 1,538.02.

The benchmark index, which opened 1.08 points firmer at 1,539.10, moved between 1,537.31 and 1,547.10 during the morning trading session.

On the broader market, however, losers led gainers 463 to 398, while 432 counters were unchanged, 967 untraded and 23 others suspended.

Turnover amounted to 2.06 billion units worth RM1.21 billion.

Regionally, Japan's Nikkei rose 0.38% to 40,063.29, Shanghai's SSE Composite Index gained 0.14% to 3,031.12 and South Korea’s Kospi increased 1.33% to 2,677.53.

Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the main important agenda for this week would be China’s National People’s Congress to foresee the momentum in the market.

“The traders are betting that the Chinese authorities will inject more stimulus following another dip in manufacturing activities for February,” he told Bernama.

Among the heavyweights, Malayan Banking Bhd perked up 10 sen to RM9.55, CIMB Group Holdings Bhd inched up 12 sen to RM6.46, Public Bank Bhd was three sen higher at RM4.39, and Tenaga Nasional Bhd went up two sen to RM11.32, while Petronas Chemicals Group Bhd was flat at RM6.93.

As for the actives, TWL Holdings Bhd inched up half-a-sen to four sen, Velesto Energy Bhd increased half-a-sen to 29 sen, while Hong Seng Consolidated Bhd was flat at 1.5 sen, Harvest Miracle Capital Bhd declined two sen to 13 sen, and Jaks Resources Bhd shaved off 1.5 sen to 16 sen.

On the index board, the FBM Emas Index rose 35.95 points to 11,446.26, the FBMT 100 Index added 38.18 points to 11,112.95, and the FBM 70 Index advanced 41.51 points to 15,426.23, but the FBM ACE Index slid 19.49 points to 4,740.87 and the FBM Emas Shariah Index eased 7.97 to 11,463.57.

Sector-wise, the Financial Services Index strengthened by 144.52 points to 17,319.75, the Plantation Index was up by 54.71 points to 7,278.57, and the Energy Index improved by 5.13 points to 914.78 and the Industrial Products and Services Index inched up 0.31 of-a-point to 176.09.

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