Bursa Malaysia slightly higher at mid-day

KUALA LUMPUR: Bursa Malaysia was positive at mid-day on consistent buying support in selected heavyweights and index-linked counters, while tracking higher regional peers, dealers said.

At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.08 of-a-point higher at 1,683.61 from Friday’s close of 1,683.53.

The index opened 15.44 points firmer at 1,698.97 and moved between 1,683.61 and 1,699.66 throughout the session.

Market breadth was positive with gainers outpacing losers 385 to 280, while 322 counters were unchanged, 867 untraded and 24 others suspended.

Turnover was at 1.03 billion shares worth RM880.65 million.

OANDA senior market analyst Jeffrey Halley expected Asian bourses to be in the green today, as most of the event risk of the week had passed and in following the US indices strong overnight showing.

Meanwhile, on the home front, the Malaysian manufacturing sector began 2019 with a fourth successive monthly deterioration in operating conditions, with output and new businesses both declining during January.

The headline Nikkei Malaysia Manufacturing Purchasing Managers’ Index (PMI) – a composite single-figure indicator of manufacturing performance – registered 47.9 in January, up from 46.8 in December, extending the current period of contraction to four months.

Among the heavyweights on Bursa Malaysia, Maybank and CIMB were three sen higher each at RM9.57 and RM5.65 respectively, Public Bank and Tenaga increased four sen each to RM24.82 and RM12.94 respectively, and Petronas Chemicals was flat at RM8.45.

Of the most actives, Bumi Armada and Sapura Energy were flat at 20 sen and 26.5 sen respectively, Tatt Giap Group added one sen to 10 sen, while Iris Corporation was half-a-sen better at 13.5 sen.

The FBM Emas Index was 12.52 points firmer at 11,673.14, the FBMT 100 Index gained 11.22 points to 11,556.43 but the FBM Emas Shariah Index eased 9.46 points to 11,543.15.

The FBM Ace Index added 71.08 points to 4,473.18 and the FBM 70 gained 57.78 points to 13,874.99.

Sector-wise, the Financial Services Index was 54.84 points better at 17,569.81, the Industrial Products and Services Index was 0.31 points better at 161.42 but the Plantation Index decreased 11.53 points to 7,268.71. — Bernama

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