Bursa Malaysia gains 0.33 per cent at midday
Declining counters narrowly outnumbered gainers, while turnover reached 2.24 billion shares valued at RM1.26 billion.
Bargain hunting in selected heavyweight stocks helped lift Bursa Malaysia’s benchmark on Oct 2. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,635.80, a gain of 5.44 points, or 0.33 per cent, against the previous close of 1,630.36.
The index started trading at 1,633.87, up 3.51 points, with the morning’s range spanning 1,630.63 to 1,640.78. Across the market, 507 counters declined and 499 advanced. Another 494 were unchanged, while 1,273 were untraded and 24 suspended. Trading volume totalled 2.24 billion shares, valued at RM1.26 billion.
Heavyweight gains included Maybank, which finished the morning at RM10.04 after adding nine sen, and Tenaga Nasional, up 16 sen at RM13.06. Public Bank gained four sen, reaching RM4.71, while IHH Healthcare’s 11 sen increase took it to RM7.81. CIMB slipped one sen, leaving it at RM7.68.
Among the leading gainers, Malaysian Pacific Industries added 84 sen, reaching RM41.96. UWC gained 36 sen, ending at RM7.46. Kuala Lumpur Kepong headed the declining stocks with a 46 sen loss, taking its price to RM20.96.
Hong Leong Investment Bank said elevated oil prices and bond yields could prolong the benchmark’s risk-off consolidation. The bank also identified continuing foreign outflows, increased US-Iran tensions and a hawkish Federal Reserve backdrop as pressures on sentiment.
