Bursa Malaysia Rises Higher, Regional Market Performance Positive


Bursa Malaysia regained early losses to end the morning trading session higher on Monday. It is in line with the positive performance in regional exchanges.

At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.13 points to 1,556.96 compared to its close of 1,552.83 on Friday.

The benchmark index opened 5.38 points weaker at 1,547.45 and now moves between 1,544.32 to 1,557.33 throughout the session.

Market sentiment was positive where gainers outnumbered losers by 449 to 440. Meanwhile, 462 counters were unchanged, 956 were not traded and 22 others were suspended.

The total turnover was 2.31 billion units worth RM1.28 billion.

Rakuten Trade Sdn Bhd's Vice President of Equity Research, Thong Pak Leng said the FBM KLCI is expected to hover in the range of 1,545 to 1,555 on Monday.

According to him, it is worthwhile for the market to take note that the daily volume has increased to over four billion shares as more money is being pulled back into luxury stocks in recent times.

He hopes that it remains sustainable as this will certainly increase to a smaller limit in the future.

Meanwhile among heavyweight stocks, Malayan Banking Bhd (Maybank) rose eight sen to RM9.79, Public Bank Bhd rose three sen to RM4.30, CIMB Group Holdings Bhd rose five sen to RM6.66, Tenaga Nasional Bhd (TNB ) put up two sen to RM11.62 and Petronas Chemicals Group Bhd dropped three sen to RM6.87.

For active counters, Hong Seng Consolidated Bhd, Sapura Energy Bhd and TWL Holdings Bhd were unchanged at 1.5 sen, 4.5 sen and 3.5 sen respectively.

Meanwhile, Pan Malaysia Holdings Bhd (PMHB) added half a sen to 19 sen and Eversendai Corp Bhd added three sen to 35 sen.

On the index board, the FBM Emas Index rose 28.09 points to 11,571.68, the FBMT 100 Index rose 28.48 points to 11,233.78, and the FBM 70 Index rose 34.23 points to 15,698.87.