KUALA LUMPUR: The FBM KLCI remained in positive territory at midday, buoyed by gains in Tenaga Nasional, Maybank, and MR DIY, although YTL Corp gave up some of its recent gains.
At the lunch break, the market bellwether rose 3.3 points, or 0.2% to 1,668.60 after hitting an intra-morning high of 1,670.78.
In the broader market, losers outnumbered gainers 568 to 429, with 2.1 billion shares worth RM1.4bil changing hands.
Tenaga lifted the KLCI by 1.8705 points after rising 22 sen to RM14.96, with 8.28 million shares traded, while Maybank added four sen to RM10.74, contributing 0.7060 points to the index with 1.29 million shares changing hands.
YTL Corp, which fell six sen to RM2.66, dragged the index lower by 0.9717 points, while Public Bank declined two sen to RM4.68, nudging the index lower by 0.5678 points.
On the broader market, Hong Leong Industries jumped 36 sen to RM14.14, Bursa Malaysia added 21 sen to RM9.79 and 99 Speed Mart gained 15 sen to RM2.14.
Malaysian Pacific Industries
slid 48 sen to RM26.72, Frontken fell 15 sen to RM3.76, Unisem lost 15 sen to RM3.05 and Harrisons declined 15 sen to RM8.30.
TA Securities said stocks should remain upbeat amid hopes for further rate cuts from key global central bankers, which would encourage more foreign fund flows into the region.
“Immediate index resistance will be at the recent high of 1,674, followed by the high of 1,684, then 1,695, the Dec 2020 high, as tougher resistance levels.
“Immediate support will be at 1,650, then the recent correction low of 1,633, with 1,620 and 1,600 acting as stronger supports,” TA said.
