Bursa Malaysia stays above 1,500 level at midday

KUALA LUMPUR, Dec 30 — Bursa Malaysia remained above the 1,500 amount at midday as investors continued to snap up bargains amid 12 months-conclusion window dressing functions.

The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) finished the early morning session 9.51 details bigger at 1,501.14 from yesterday’s closing of 1,491.63.

The current market bellwether opened .30 details greater at 1,491.93 and moved amongst 1,491.93 and 1,503.33 all over the session.

Sector breadth was optimistic with gainers outpacing losers 435 to 321 gainers, though 374 counters ended up unchanged, 1,125 untraded, and 49 many others suspended.

Turnover amounted to 1.33 billion units really worth RM842.40 million.

Rakuten Trade Sdn Bhd vice-president of equity exploration Thong Pak Leng instructed Bernama that right after breaking the 1,500 mark, the composite index will face the next resistance at the 1,530 amount.

Regional bullishness also contributed to today’s beneficial sentiment on the local front, with gains almost throughout all sectors besides for telecommunications, property blue chips, and picked reduce liners.

Among the heavyweights, Petronas Chemical compounds attained 18 sen to RM8.71, Community Lender additional six sen to RM4.41, Hong Leong Lender soared 28 sen to RM20.82, though CIMB and Sime Darby Plantation edged up five sen to RM5.85 and RM4.70 respectively.

Maybank was flat at RM8.74 and Axiata misplaced 6 sen to RM3.04.

As for the actives, Vinvest and Best Glove ended up both flat at 19.5 sen and 91 sen respectively, Progress Synergy included 50 percent-a-sen to 18 sen, AHB attained a person sen to 12.5 sen, though Infotec dropped 2. sen to 87.5 sen.

On the index board, the FBM Emas Index greater 58.15 factors to 10,739.35, the FBMT 100 Index went up 56.13 factors to 10,456.71, the FBM Emas Shariah Index garnered 43.87 factors to 10,928.27, the FBM 70 Index rose 25.92 factors to 13,050.35, though the FBM ACE Index eased 1.21 factors to 5,345.00.

Sector-wise, the Economic Solutions Index climbed 112.05 details to 16,648.76, the Plantation Index additional 40.49 factors to 7,088.41, the Industrial Goods and Companies Index set on 1.97 factors to 183.20, and the Power Index perked up 6.21 details to 780.52. — Bernama