KUALA LUMPUR, March 14 (Bernama) -- The FTSE Bursa Malaysia KLCI (FBM KLCI) rebounded to end the morning trading session higher, boosted by gains in the utilities and consumer product and services counters.
At 12.30 pm, the FBM KLCI increased 3.35 points, or 0.22 per cent to an intraday high of 1,513.38 during the session from Thursday’s close of 1,510.03.
The main index opened 10.08 points lower at 1,499.95.
The market breadth was positive, with gainers surpassing decliners 482 to 304, while 431 counters were unchanged, 1,201 untraded, and 13 suspended.
Turnover stood at 2.14 billion shares worth RM1.12 billion.
Malacca Securities Sdn Bhd said despite the recent rebound in the oversold technology sector, it believes that the continuous foreign outflows triggered by the United States’ trade policies may limit its upside.
“Traders may instead focus on sectors like healthcare, specifically hospital operators. We also remain positive on banking and utilities heavyweights due to their defensive characteristics during an economic slowdown,” it said in a note.
Among the heavyweights, Maybank and YTL Corp added eight sen each to RM10.38 and RM1.90, respectively, Gamuda was six sen firmer at RM3.96 and 99 Speed Mart rose three sen to RM2.04, while IOI fell two sen to RM3.65.
As for the actives, Saudigold shed half-a-sen to 1.0 sen, while KNM and Kinergy were flat at 4.0 sen and 32 sen, respectively. Oppstar gained seven sen to 61.5 sen and TT Vision increased 16.5 sen to 70.5 sen.
On the index board, the FBM Emas Index climbed 41.47 points to 11,292.02, the FBM 70 Index soared 110.03 points to 16,099.16, the FBM Emas Shariah Index grew 37.72 points to 10,943.51, the FBM ACE Index increased 79.80 points to 4,610.34, and the FBMT 100 Index widened 38.17 points to 11,069.18.
Sector-wise, the Plantation Index expanded 10.78 points to 7,342.43, the Financial Services Index accumulated 46.42 points to 18,618.61, the Industrial Products and Services Index edged up 0.76 of-a-point to 153.09, and the Energy Index garnered 7.19 points to 712.76.
-- BERNAMA
