BURSA MALAYSIA HIGHER AT MIDDAY, CI UP 1.09 PCT

KUALA LUMPUR, Dec 1 (Bernama) -- Bursa Malaysia ended the morning session higher today, with the key index rising 1.09 per cent, in line with the mostly higher performance in regional markets ahead of several key data releases.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 17.51 points, or 1.09 per cent, to 1,621.98 from last Friday’s close of 1,604.47. 

The benchmark index, which opened 3.79 points firmer at 1,608.26, moved between 1,608.26 and 1,624.90 during the morning trading session.

The broader market, however, was negative, with decliners beating gainers 559 to 476. A total of 488 counters were unchanged, 1,166 untraded and 10 suspended.

Turnover reached 2.66 billion units, valued at RM1.30 billion.

Investors will focus on several key data releases that could shape the United States Federal Reserve’s (Fed) policy outlook, including private hiring figures, services activity data, and the Personal Consumption Expenditure (PCE) index.

Hong Leong Investment Bank Bhd (Hong Leong IB) said Wall Street ended November on a firm footing last Friday, with a post-Thanksgiving shortened session delivering modest gains.

“Risk appetite improved as markets priced in an 86 per cent probability of a 25 basis points Fed rate cut on Dec 10,” it said in a research note today. 

Back home, Hong Leong IB said in the near term, the FBM KLCI could still witness bouts of volatility as investors digest the post-Sabah election landscape and anticipate a potential cabinet reshuffle, a move that Prime Minister Datuk Seri Anwar Ibrahim could use to strengthen Federal-Sabah ties and signal greater inclusivity amid shifting political dynamics.

“With the Sabah polls concluded and Chief Minister Datuk Seri Hajiji Noor sworn in for a second term as chief minister, the new coalition government is expected to align more closely with the PM’s Madani administration and national priorities,” it said.

Hong Leong IB said that against this backdrop, coupled with rising expectations of a Fed rate cut and a stable November results season, the FBM KLCI appears poised for a technical rebound in December.

“This is a seasonally stronger month in December, following two consecutive monthly declines in October (-2.7 points) and Nov (-4.7 points),” it added.

Among heavyweights, Maybank was 6.0 sen higher at RM9.97, Public Bank inched up 1.0 sen to RM4.36, CIMB gained 28 sen to RM7.93, Tenaga Nasional gained 34 sen to RM13.52, and IHH Healthcare appreciated 1.0 sen to RM8.27. 

On the most active list, Tanco added 2.0 sen RM1.15, and TWL inched up half-a-sen to 3.0 sen. Inari Amertron eased 20 sen to RM1.99, while Zetrix AI and Perak Transit were flat at 82.5 sen and 26 sen, respectively. 

Top gainers included Nestle, which rose RM1.80 sen to RM108.70, BLD Plantation perked up 70 sen to RM16.50, Hong Leong Industries advanced 64 sen to RM15.64, Dutch Lady gained 40 sen to RM30.40, and Petronas Dagangan strengthened 60 sen to RM20.42.

Among the top losers, PPB Group dipped 30 sen to RM10.70, Kuala Lumpur Kepong decreased 42 sen to RM19.78, Can-One weakened 20 sen to RM1.65, and Gamuda shed 13 sen to RM5.22. 

On the index board, the FBM Emas Index advanced 85.62 points to 12,001.59, the FBM Emas Shariah Index widened 50.57 points to 11,901.47, the FBMT 100 Index gained 89.03 points to 11,790.00, and the FBM ACE Index rose 1.22 points to 4,825.84, but the FBM Mid 70 Index weakened 39.46 points to 16,816.62.

Sector-wise, the Financial Services Index jumped 210.17 points to 18,786.12, the Energy Index expanded 2.15 points to 749.93, and the Industrial Products & Services Index put on 1.60 points to 165.63, while the Plantation Index slid 4.92 points to 8,067.20.

-- BERNAMA