BURSA MALAYSIA HIGHER AT MIDDAY ON BUYING IN BANKING, UTILITIES STOCKS

KUALA LUMPUR, April 15 (Bernama) -- Bursa Malaysia ended the morning session higher, supported by selective buying interest in banking and utilities counters.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) edged up 1.87 points or 0.13 per cent to 1,482.73 from Monday’s close of 1,480.86. 

The benchmark index, which opened 3.15 points higher at 1,484.01, moved between 1,480.30 and 1,489.90 during the session.

In the broader market, decliners surpassed gainers 429 to 339, with 376 counters unchanged, 1,253 untraded and nine suspended.

Turnover stood at 2.10 billion shares worth RM982.88 million.

Malacca Securities Sdn Bhd said there is potential to negotiate for United States (US) tariff relief during the 90-day reprieve, which could further benefit Malaysia’s semiconductor and glove sectors.

The stockbroking firm also said the bullish momentum on the FBM KLCI is expected to persist with the arrival of Chinese President Xi Jinping in Malaysia today, supported by optimism over potential Chinese investments.

“China’s decision to halt rare earth exports to the US presents Malaysia with a strategic opportunity to leverage its position as host to the world’s largest rare earth processing facility outside China, operated by Lynas,” it said in a note today.

Among the heavyweights, Maybank added five sen to RM9.94 while Public Bank and IHH Healthcare gained two sen each to RM4.33 and RM6.80, respectively.

Meanwhile, Tenaga Nasional and CIMB Group were flat at RM13.38 and RM6.73, respectively.

Among the actives, Tanco Holdings climbed two sen to 83.5 sen. Kucingko and MY EG Services were unchanged at 17 sen and 92.5 sen respectively.

Meanwhile, Reach Energy edged down one sen to half-a-sen, and ACE Market debutant MSB Global slipped 2.5 sen to 17.5 sen.

On the index board, the FBM Emas Index edged up 5.51 points to 11,005.27, and the FBMT 100 Index rose 7.95 points to 10,793.06.

However, the FBM Emas Shariah Index declined 23.72 points to 10,795.82, the FBM 70 Index trimmed 11.20 points to 15,491.95, and the FBM ACE Index fell 13.40 points to 4,511.34.

Sector-wise, the Financial Services Index advanced 92.73 points to 17,847.88 and the Plantation Index added 2.81 points to 7,213.14.

In contrast, the Industrial Products and Services Index eased 0.10 of-a-point to 143.39 and the Energy Index declined 2.85 points to 653.21.

-- BERNAMA