KUALA LUMPUR, Aug 14 ― Bursa Malaysia maintained its upbeat momentum at midday, driven by strong recovery across almost all indices.
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) opened 5.48 points higher at 1,598.36 with the technology sector up by 2.23 per cent followed by small and medium sized capitals at 1.17 per cent and 1.34 per cent respectively.
According to analysts, the increase was due to bargain hunting after the index dipped 22.17 points yesterday due to global uncertainty and the economic slowdown, with key central banks mooting the idea of further possible rate cuts.
“The decision by President Donald Trump to delay additional tariffs on Chinese goods scheduled for September 1, has given the market a push for now,” he told Bernama.
On the broader market, gainers outstripped losers 420 to 224, while 338 counters were unchanged, 924 untraded and 18 others suspended.
Turnover amounted to 1.29 billion shares worth RM640.0 million.
The top heavyweight gainers were Public Bank and CIMB both gained six sen to RM20.80 and RM5.06 while Maybank, Tenaga Nasional, and IHH all added two sen to RM8.58, RM13.62 and RM5.68, respectively.
Of the active stocks, Sumatec gained one sen to 40 sen, KNM bagged a sen to 20 sen and its warrant gained half a sen to 20 sen, while Datasonic improved 10 sen to 93.5 sen, with its warrant inching up 5.5 sen to 43.5 sen, while Berjaya Land gained two sen to 20.5 sen.
The FBM Emas Index increased 58.48 points to 11,348.89 the FBMT 100 Index gained 54.43 points to 11,182.71 and the FBM Ace grew 38.97 points to 4,652.65.
The FBM 70 rose 70.88 points to 14,233.71 and the FBM Emas Shariah Index firmed 67.18 points to 11,863.41.
Sector-wise, the Plantation Index was 34.07 points stronger at 6,725.73 and the Industrial Products and Services Index was marginally up by 0.67 point to 151.35. ― Bernama
Source: The Malay Mail Online