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Bursa Malaysia remains higher at mid-morning

bursa — Bernama picbursa — Bernama picKUALA LUMPUR, May 19 — Bursa Malaysia remained higher at mid-morning today on improved buying interest and in line with the overnight performance of Wall Street, but gains remained modest, dealers said.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 2.39 points to 1,769.56 as at 11.04 am after opening 1.23 points higher at 1,768.40. It closed yesterday at 1,767.17.

On the broader market, gainers led losers 419 to 243, while 403 counters were unchanged, 683 untraded and 20 others suspended.

Turnover stood at 1.07 billion shares worth RM763.57 million.

A dealer said US stocks ended on a positive note backed by stronger economic data from jobs and business activities, coupled with bargain-hunting activities on beaten down stocks.

Kenanga Research in a note said US stocks recovered from the steep sell-off two days ago, underpinned by the strong economic data reported.

“Nonetheless, gains are still largely capped by the lingering concerns over Trump’s economic agenda and his intervention in alleged Russian meddling in the presidential election,” it added.

US crude which rose 0.2 per cent to US$49.46 per barrel on optimism that producers would agree to rein in output also lifted the energy counters on the local bourse.

For the heavyweights, MISC gained one sen to RM7.54, KLCC added four sen to RM7.87, Maxis improved one sen to RM6.50, PPB was two sen higher at RM17.08, but IHH fell seven sen to RM5.95 and KLK gave up two sen to RM24.88. Digi.com and Westports were flat at RM4.99 and RM3.90 respectively.

For the gainers, Petronas Dagangan rose 72 sen to RM24.80, Petronas Gas and AEON Credit each increased 22 sen to RM19.22 and 19.04,  Allianz garnered 18 sen to RM12.68 and Petron Malaysia bagged 17 sen to RM8.81.

The FBM Emas Index rose 20.31 points to 12,680.72, the FBMT 100 Index increased 17.22 points to 12,305.24 and the FBM Emas Shariah Index garnered 15.85 points to 13,008.21.

The FBM 70 gained 23.66 points to 15,270.92 and the FBM Ace rose 25.98  points to 6,456.46.

On a sectoral basis, the Industrial Index increased 5.29 points to 3,271.74, the Finance Index rose 34.68 points to 16,377.38 and the Plantation Index was 1.17 points higher at 8,059.06. — Bloomberg

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