KL shares end morning session mixed in cautious trading
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KUALA LUMPUR, Aug 15 — Bursa Malaysia ended the morning session mixed in cautious and range bound trading, with the barometer index marginally lower and weighed down by losses in heavyweight stocks, while tracking the better performance of its Asian peers, dealers said.
At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.29 of a point easier at 1,770.79, after moving between 1,769.53 and 1,773.37.
It opened 1.79 points better at 1,772.87 from yesterday’s close of 1,771.08
Market breadth was positive, as gainers led losers 419 to 304, with 319 counters unchanged, 808 untraded and 34 others suspended.
Turnover stood at 1.05 billion shares worth RM709.91 million.
A dealer said Asian markets were mostly higher as investors went bargain-hunting following last week’s sell-off, with the FBM KLCI edging up early in the morning and remaining in the black for most of morning trading session, before retreating towards the end of it.
Hong Leong Investment Bank (HLIB) said US stock markets managed to rebound strongly led by technology heavyweights as the geopolitical jitters resulting from the war of words between the US and North Korea subsided.
It said sentiment on the local front is likely to remain buoyant amid the positive overnight performance of Wall Street.
Regionally, Japan’s Nikkei 225 rose 1.26 per cent to 19,783.24., Hong Kong’s Hang Seng improved 0.40 per cent to 27,358.09, South Korea’s Kospi gained 0.63 per cent to 2,334.22, while the Singapore Straits Times index fell 0.31 per cent to 3,298.25
Among heavyweights, Tenaga and Public Bank gained two sen each to RM14.20 and RM20.56 respectively, Sime Darby lost one sen for RM9.39, Petronas Chemicals bagged three sen to RM7.14, while Maybank and CIMB Group were flat at RM9.69 and RM6.78.
Of the actives, MLabs Systems gained 3.5 sen to 21 sen, Anzo added 1.5 sen to 11 sen, PUC improved half-a-sen to 12.5 sen and JAG was flat at 15 sen.
The FBM Emas Index was up 12.62 points to 12,558.23, the FBM Emas Shariah Index rose 20.87 points to 12,687.81 and the FBMT 100 Index improved 10.44 points to 12,226.17.
The FBM 70 jumped 59.86 points to 14,844.76 as the FBM Ace gained 31.51 points to 6,421.42.
Sector-wise, the Finance Index eased 5.59 points to 16,721.74, the Industrial Index slipped 6.64 points to 3,239.26, but the Plantation Index was 8.64 points higher at 7,803.99. — Bernama