Hanoi:Bursa Malaysia's key index remained higher at midday, driven by selective bargain hunting and optimism regarding Budget 2027, aligning with a rebound on Wall Street. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) increased by 7.87 points, or 0.48 percent, reaching 1,616.32 from Friday's close of 1,608.45. The index, which opened 3.34 points higher at 1,611.03, fluctuated between 1,608.91 and 1,619.30 during the morning session.
According to BERNAMA News Agency, the broader market saw more losers than gainers, with 662 losers to 318 gainers, while 483 counters remained unchanged. There were 1,364 untraded and 12 suspended counters. Turnover was at 1.96 billion units, valued at RM1.33 billion.
Rakuten Trade Sdn Bhd's vice-president of equity research, Thong Pak Leng, noted that the benchmark index remains oversold. He suggested that government development allocations and consumer-support measures could maintain interest in infrastructure, utilities, banking, and selected consumer sectors. Thong expects the index to hover within the 1,600-1,615 range for the rest of the day.
Malacca Securities Sdn Bhd commented that the FBMKLCI is likely to follow global technology trends, with sentiment bolstered by robust earnings and positioning following the Budget 2027 announcement. The semiconductor and automation sectors, along with AI and high-value investments, remain government priorities.
Among the heavyweights, Maybank and Public Bank each gained 12 sen, reaching RM9.93 and RM4.69, respectively. CIMB rose four sen to RM7.30, and Tenaga Nasional went up by six sen to RM12.94. In contrast, IHH Healthcare fell by two sen to RM7.88.
In active trading, Zetrix AI and JAKS Resources decreased by half a sen to eight sen and 17.5 sen, respectively. VS Industry dropped two sen to 32.5 sen, and Genting fell 35 sen to RM1.53. Nationgate, however, gained four sen to RM2.15.
Top gainers included Nestle, which rose 78 sen to RM90.94, and MISC, which increased by 36 sen to RM7.95. Vitrox appreciated by 24 sen to RM11.24, while Kuala Lumpur Kepong and KESM each climbed 14 sen to RM20.76 and RM4.64.
United Plantations led decliners, dropping 26 sen to RM30.44. Genting Malaysia fell 20 sen to RM1.29, Malaysian Pacific decreased by 18 sen to RM43.90, Negri Sembilan Oil sank 14 sen to RM5.15, and YTL Power shed 13 sen to RM5.57.
On the index board, the FBM Mid 70 Index dropped 142.43 points to 17,540.68, while the FBM Emas Index added 8.32 points to 12,107.15. The FBM Top 100 Index gained 17.58 points to 11,888.98, and the FBM Emas Shariah Index decreased by 11.55 points to 12,118.23. The FBM ACE Index fell 63.24 points to 5,591.33.
In sectoral performance, the Industrial Products and Services Index contracted by 0.91 of a point to 179.84, the Energy Index declined 2.80 points to 834.77, the Plantation Index weakened by 13.47 points to 8,876.79, while the Financial Services Index surged by 185.08 points to 18,609.90.