FBM KLCI pauses at 1,600 as traders practise caution


KUALA LUMPUR: Malaysia's benchmark index ended the morning session atop the 1,600 psychological level as traders awaited fresh catalysts.

There appeared to be fresh optimism in the domestic market as the number of advancing issues outnumbered decliners 480 to 373, reflecting a positive broader market.

Trading volume was 1.58 billion shares changing hands for RM1.04bil. 

Most sectors rebounded, with technology shares leading the rally. After recent declines, local tech shares bounced 2.07% higher. Top sector gainers included Vitrox rising 32 sen to RM10.62, Frontken gaining 15 sen to RM5.10 and Pentamaster climbing 15 sen to RM5.40.

Property stocks were 0.86% improved while financial services shares gained a meagre 0.09% and plantation stocks added 0.07%.

On the FBM KLCI, leading blue chips included Hong Leong Bank gaining 24 sen to RM21.44, Gamuda rising seven sen to RM4.82, Press Metal climbing six sen to MR 6.81 and SD Guthrie rising three sen to RM5.67.

NWE Resources remained at the top of the actives board as it made its debut on the ACE Market, rising three sen to 23 sen after 59.97 million shares done.

In regional markets, South Korea's Kospi rebounded 2.54% to 5,693 after the previous day's rout.

Japan's Nikkei gained 0.94% to 64,678. China's shanghai Composite index was down 0.31% to 3,723 while the CSI300 dipped 0.65%.

 

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Bursa Malaysia , FBM KLCI , equity , stocks , commodities

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