KUALA LUMPUR: Bursa Malaysia stayed higher at midday, tracking regional markets after Wall Street’s positive performance overnight, led by megacap technology shares on solid artificial intelligence (AI) investment and earnings momentum.
At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 5.49 points or 0.34 per cent to 1,637.24 from Monday’s close of 1,631.75.
The benchmark index opened 4.63 points higher at 1,636.38 and moved between 1,635.21 and 1,641.20 during the morning trading session.
On the broader market, gainers led losers 524 to 428, with 520 counters unchanged, 1,310 untraded and 13 suspended.
Turnover stood at 2.36 billion units worth RM1.24 billion.
Hong Leong Investment Bank (HLIB) said Wall Street rose overnight, led by megacap technology shares, as solid AI investment and earnings momentum outweighed elevated bond yields.
"Brent crude eased below US$102 per barrel as recovering West Asia exports, the G7’s emergency stockpile release and Saudi Arabia’s deeper price cuts eased supply concerns, although geopolitical risks persisted.
"The US 10-year yield climbed to 5.33 per cent, near its highest since March 2022, amid renewed inflation concerns and persistent Treasury selling,” it said in a research note today.
Among the heavyweights, Maybank increased two sen to RM10.02, IHH Healthcare was seven sen higher at RM7.83, Public Bank eased five sen to RM4.66, CIMB shed two sen to RM7.71, while Tenaga Nasional was flat at RM13.00.
In active trade, Zetrix AI inched up three sen to 9.5 sen, ACE Market debutant SLGC shed three sen to 25 sen, V.S Industry eased half a sen to 31.5 sen, and Ramssol slipped two sen to 81.5 sen, while Divfex was flat at 15.5 sen.
Among the top gainers, Malaysian Pacific Industries
rose 86 sen to RM44.26, Nestle climbed 70 sen to RM90.70, Kuala Lumpur Kepong advanced 48 sen to RM21.34, Mi Technovation put on 38 sen to RM5.79, and Batu Kawan climbed 24 sen to RM19.22.
Dutch Lady Milk Industries led the decliners, falling 40 sen to RM29.60, BLD Plantation slipped 18 sen to RM14.82, Ayer Holdings slid 15 sen to RM7.55, Samaiden erased 12 sen to RM3.07 and Kelington fell 10 sen to RM9.02.
On the index board, the FBM Mid 70 Index increased 97.32 points to 17,640.81, the FBM Emas Index gained 43.42 points to 12,233.77, the FBM Top 100 Index put on 47.07 points to 12,020.45, the FBM Emas Shariah Index rose 74.37 points to 12,143.38, and the FBM ACE Index edged up 8.10 points to 5,614.71.
Sector-wise, the Industrial Products and Services Index inched up 0.98 of a point to 179.95, the Energy Index improved 5.98 points to 835.92, the Plantation Index jumped 114.24 points to 9,045.27, while the Financial Services Index decreased 20.24 points to 19,119.90. - Bernama
