KUALA LUMPUR, Oct 26 — Bursa Malaysia remained higher at mid-day but was off its highs as investors continued to nibble on beaten down stocks and selected heavyweights led by Maxis and Digi.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) ticked up 5.60 points to 1,450.01 compared with Tuesday’s close of 1,444.41.
The barometer index opened 3.16 points higher at 1,447.57.
The broader market was positive with gainers outpacing losers 431 to 320, while 347 counters were unchanged, 1,266 untraded, and 11 others suspended.
Turnover stood at 1.45 billion units valued at RM862.40 million.
Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the domestic interest was also spurred by a rally on Wall Street on hopes that the United States (US) Federal Reserve will be less aggressive in raising rates following signs that the economy is cooling down.
The US stock market also received a boost from major players as Coca-Cola, General Motors and Microsoft posted stronger-than-expected corporate earnings.
‘’The FBM KLCI is expected to move at between 1,440 and 1,455 range today,” he told Bernama.
Investors are also focusing on election-thematic counters.
On the local market, Maxis, Digi, IOI Corp, and Dialog gained nine sen each to RM3.66, RM3.71, RM4.00, and RM1.70 respectively.
Sime Darby Plantation was seven sen higher at RM4.49 and KLK surged 44 sen to RM21.92.
Newly-listed Betamek continued to top the most active list, jumping 23 sen to 73 sen, followed by Serba Dinamik which remained flat at two sen.
On the index board, the FBM Emas Index rose 45.28 points to 10,273.67, the FBM 70 perked up 77.52 points to 12,184.91, and the FBMT 100 Index increased 44.48 points to 10,019.30.
The FBM Emas Shariah Index bagged 76.89 points to 10,289.01 and the FBM ACE added 19.51 points to 4,850.11.
Sector-wise, the Financial Services Index turned lower, slipping 8.45 points to 16,496.72, the Energy Index edged up 3.81 points to 682.17, the Industrial Products and Services Index lost 0.58 of-a-point to 174.51, and the Plantation Index chalked up 100.33 points to 6,892.41.
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