KUALA LUMPUR: Bursa Malaysia ended the morning session on a positive note at mid-day, led by buying support for selected heavyweights amid a mixed broader market. 

At 12.30 pm, the FBM-KLCI gained 1.07 points to 1,794.22 on the first trading day of the fourth quarter. The local bourse opened up 2.84 points higher at 1,795.99.

In the broader market, losers thumped gainers 390 to 339 losers and 318 counters unchanged on the Bursa Malaysia. Turnover was at 1.28 billion shares valued at RM725.28mil.

JF Apex Research said the technical indicators for FBM KLCI were mixed with the RSI hovering below the overbought zone while the MACD crossed below its signal line.

“Last week’s surge came after the index bounced off the 100-day moving average and reclaimed the 200-day moving average. This week’s rebound came after bouncing off the 50-day moving average. The index tested the 200-day moving average and further gains could be seen if this threshold is broken,” it said. 

Earlier, PublicInvest Research said the FBM KLCI might open flat after a mixed picture on Wall Street last Friday as Italian bond yields reached a five-year high on Friday after the government unveiled plans for a sharp increase in public spending and proposed a 2.4 percent budget deficit, risking a collision with the EU.

On Bursa Malaysia, Apex Healthcare was the top gainer, up 36 sen to RM8.61, its all time high. Hong Leong Industries rose 24 sen to RM10.88 while British American Tobacco added 24 sen to RM31.96. 

The top losers included Carlsberg, Ajinomoto and Sungei Bagan Rubber Company.

As for the heavyweights, Maybank closed down three sen to RM9.76, Petronas Chemicals added four sen to RM9.40, Petronas Gas rose 16 sen to RM19.06 and Axiata gained eight sen to RM4.64.

The regional markets finished broadly higher at midday with Nikkei 225 was up 0.44% while China’s Shanghai Composite added 1.06% and Hong Kong’s Hang Seng rose 0.26%.