BURSA MALAYSIA ENDS MORNING SESSION HIGHER AHEAD OF OPR ANNOUNCEMENT

KUALA LUMPUR, March 5 (Bernama) -- Bursa Malaysia ended the morning trading session higher ahead of the announcement of Bank Negara Malaysia’s overnight policy rate (OPR), with the market expecting the central bank to maintain its policy rate at 2.75 per cent.

At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 11.21 points, or 0.66 per cent, to 1,709.43,  from Wednesday’s close of 1,698.22.  

The benchmark index opened 8.03 points higher at 1,706.25 and fluctuated between 1,701.83 and 1,712.56 throughout the morning session.  

Gainers led decliners 522 to 430, while 478 counters were unchanged, 1,192 untraded, and 11 suspended.

Market turnover stood at 1.45 billion shares valued at RM1.33 billion.

Apex Securities Bhd said markets are likely to remain cautious in the near term as geopolitical tensions in the Middle East continue to evolve. It noted that in the United States, lawmakers were debating a war-powers resolution aimed at limiting further military action against Iran, underscoring rising political divisions over the conflict and adding to policy uncertainty.

At the same time, transatlantic tensions have surfaced, with Spain rejecting participation in the conflict despite threats from the US to sever trade ties, highlighting growing geopolitical friction among Western allies.

“Against this backdrop, markets may continue to trade with elevated volatility, particularly as investors assess the risk of further escalation and its implications for global energy supply and inflation.  Nevertheless, any signs of diplomatic de-escalation or policy restraint could help stabilise sentiment and support a gradual recovery in risk assets,” it said.

Among the heavyweight stocks, Maybank gained four sen to RM11.70, Public Bank added seven sen to RM4.91, and CIMB increased five sen to RM8. TNB went up five sen to RM14.22, and Hong Leong fell eight sen to RM22.98. 

On the most active list, Zetrix climbed one sen to 78 sen, Tanco added five sen to RM1.58, and Sarawak Consolidated grew half-a-sen to 12 sen. NexG rose three sen to 30 sen, while VS Industry and Perdana Petroleum dropped half a sen each to 31.5 sen and 16 sen, respectively.

Among the top gainers, Nestle gained RM1 to RM108, Malaysian Pacific Industries added 60 sen to RM31.10, Press Metal went up 27 sen to RM7.67, and Hong Leong Industries expanded 22 sen to RM17.60.

As for the top losers, Hong Leong Financial Group and Allianz Malaysia both lost 38 sen to RM20.88 and RM21.18, respectively. Fraser & Neave shed 28 sen to RM33.62, and United Plantations declined 14 sen to RM30.06. 

On the index board, the FBMT100 Index climbed 69.02 points to 12,335.68, the FBM Emas Index went up 65.56 points to 12,500.03, and the FBM70 Index put on 42.51 points to 17,196.77.  The FBM Emas Shariah Index widened by 60.31 points to 12,148.55, and the FBM ACE Index garnered 4.71 points to 4,510.53.    

Sector-wise, the Financial Services Index recovered by 86.93 points to 20,855.71, the Plantation Index bagged 30.60 points to 8,169.26, and the Industrial Products and Services Index inched up 1.75 points to 173.47. The Energy Index shrank 5.95 points to 780.66. 

-- BERNAMA