Bursa Malaysia stays higher as investors shrug off Omicron risks


KUALA LUMPUR: Window-dressing activities and investors’ risk-on mode continued to drive Bursa Malaysia higher at lunch break Tuesday.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) gained 5.90 points to 1,489.35 from 1,483.45 at Monday’s close.

The market bellwether opened 1.49 points better at 1,484.94 and fluctuated between 1,484.35 and 1,490.84 during the morning session.

On the broader market, gainers led losers 468 to 328, while 409 counters were unchanged, 1,081 untraded, and 20 others suspended.

Turnover stood at 2.54 billion units valued at RM1.03 billion.

An analyst said the market performed in line with the regional bourses and overnight performance on Wall Street as investors shrugged off Omicron variant risks, which may cause milder illness compared with earlier strains.

Investors also cheered China’s latest economic data, which saw exports beat expectations although the growth rate slowed down in November compared to September.

The country's exports increased 22 per cent year-on-year while imports jumped 31.7 per cent.

In addition, the oil market's further improvement also helped to boost sentiment with Brent crude hovering at above US$73 per barrel.

Among the heavyweights, Public Bank gained six sen to RM3.94, while Maybank and Mr DIY added five sen to RM8.04 and RM3.49, respectively.

Axiata rose seven sen to RM3.72, MISC expanded nine sen to RM6.45, and Petronas Chemicals went up 12 sen to RM8.43.

Top Glove, however, remained weak at RM2.44 or 13 sen lower, while Hartalega lost 35 sen to RM5.74.

Of the actives, Kanger trimmed one sen to two sen and Sapura Energy eased 2.5 sen to 5.5 sen, while BCM Alliance, Green Ocean, XOX and Impiana Hotels were flat at 3.5 sen, three sen, three sen and nine sen, respectively.

On the index board, the FBM Emas Index advanced 45.24 points to 10,855.18, the FBMT 100 Index bagged 43.59 points to 10,562.52, and the FBM Emas Shariah Index was 17.34 points higher at 11,728.37.

The FBM 70 improved 64.99 points to 14,037.88 but the FBM ACE eased 2.83 points to 6,210.19.

Sector-wise, the Industrial Products and Services Index inched up 1.42 points to 192.48, the Financial Services Index climbed 110.33 points to 15,078.04, and the Plantation Index added 17.73 points to 6,411.88. - Bernama
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Bursa Malaysia , Midday , FBM KLCI , Wall Street , China 

   

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