Bursa Malaysia Soars, Telco Shares Dominate the Local Market


Bursa Malaysia remained in positive territory mid-session on Wednesday as it was supported by continued buying activity in selected heavyweight counters especially in the telecommunications and media sectors.

The positive sentiment is also in line with the encouraging performance of regional partners.

At exactly 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 6.95 points (0.45%) to 1,568.59 from 1,561.64 at Tuesday's close.

The benchmark index opened 3.85 points higher at 1,565.49 and moved between 1,564.89 and 1,571.04 throughout this morning's trading session.

In the broader market, gainers outnumbered losers by 617 to 303. Meanwhile, 460 counters were unchanged, 984 were untraded and 21 others were suspended. The total turnover was 2.57 billion units worth RM1.27 billion.

ActivTrades investor Anderson Alves said Asian equities were likely to trade in positive territory on Wednesday as easing tensions in the Middle East encouraged market participants to shed hedges and increase their exposure to equities.

Meanwhile, heavyweights such as Axiata Bhd jumped 11 sen to RM2.71, Maxis Bhd added six sen to RM3.54 while CelcomDigi Bhd and YTL Corp Bhd rose four sen to RM4.11 and RM2.72 respectively. Public Bank Bhd rose two sen to RM4.23.

As for active shares, MyEG Services Bhd added one sen to 79.5 sen, Talam Transform Bhd, TWL Holdings Bhd, Bina Puri Holdings Bhd and InGenieur Gudang Bhd were all unchanged at one sen, three sen, 7.5 sen and 13.5 sen respectively.

On the index board, the FBM Emas Index rose 64.32 points to 11,779.36, the FBM 70 Index jumped 112.55 points to 16,361.59 and the FBMT 100 Index rose 57.79 points to 11,416.05. The FBM Emas Shariah Index rose 81.57 points to 11,939.92 and the FBM ACE Index rose 83.88 points to 5,042.03.

In terms of sectors, the Industrial Products and Services Index rose 1.04 points to 186.6, the Financial Services Index rose 37.27 points to 17,392.62 and the Energy Index rose 6.87 points to 976.03. The Plantation Index gained 41.1 points to 7,425.05.