KL shares end morning session higher as investor sentiment perks

A view of the bursa stock market exchange board in RHB Investment Bank in Kuala Lumpur February 6, 2018. — Picture Ahmad ZamzahuriA view of the bursa stock market exchange board in RHB Investment Bank in Kuala Lumpur February 6, 2018. — Picture Ahmad ZamzahuriKUALA LUMPUR, Feb 14 — Bursa Malaysia ended the morning session higher as investor sentiment perked over the release of better-than-expected 2017 fourth quarter and full year gross domestic product (GDP) data for the country.

At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,834.18, up 1.16 points from yesterday’s close of 1,833.02.

After opening 2.63 points better at 1,835.65, the local barometer moved between 1,829.71 and 1,835.72 during the morning session.

Gainers trounced losers 386 to 329 with 364 counters unchanged, 803 untraded and 20 others suspended.

Turnover stood at 763.73 million shares worth RM715.19 million.

The dealers said gains in the composite index was lifted by buying in blue chips and selected heavyweights such as Maybank, Petronas Chemicals and CIMB.

Maybank added two sen to RM10.12, as Petronas Chemicals and CIMB rose three sen each to RM8.01 and RM6.93 respectively.

Malaysia’s economy grew 5.9 per cent in the fourth quarter of 2017, up from 5.8 per cent in the previous quarter, beating the estimation of economists, with private sector demand continuing to be the primary driver of growth.

Bank Negara Malaysia said the outlook for 2018 remained favourable, supported by domestic demand.

Full-year 2017 growth picked up pace, rising to 5.9 per cent from 4.2 per cent in 2016.

Meanwhile, the Industrial Index fell 28.70 points to 3,204.16, the Finance Index jumped 26.23 points to 17,561.89 and the Plantation Index went down 0.11 of-a-point to 7,991.10.

The FBM Emas Index increased 14.26 points to 13,064.12, the FBMT100 Index gained 12.31 points to 12,786.69 and the FBM 70 improved 29.53 points to 16,003.20, while the FBM Ace advanced 23.04 points to 6,133.46.

Of the heavyweights, Tenaga slipped four sen to RM15.70, Public Bank fell two sen to RM22.00, IHH Healthcare gained four sen to RM6.04, while Axiata was flat at RM5.61.

Among actives, Hibiscus Petroleum bagged 3.5 sen to 80.5 sen, Tiger Synergy added half-a-sen to four sen, while PUC, Sumatec Resources and Sapura Energy were flat at 24.5 sen, seven sen and 67 sen respectively. — Bernama