Kuala lumpur: Bursa Malaysia's key index maintained an upward trajectory at midday, reflecting positive regional market performance. At 12.30 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 16.17 points, closing at 1,717.19, up from the previous Friday's close of 1,701.02. The index opened 2.63 points higher at 1,703.65 and fluctuated between 1,702.35 and 1,718.31 during the morning session.
According to BERNAMA News Agency, the broader market displayed a negative trend, with 514 losers outnumbering 435 gainers. A total of 488 counters remained unchanged, 1,336 were untraded, and 53 were suspended. The market saw a turnover of 1.55 billion shares worth RM934.80 million.
Regionally, markets showed mixed performance. Hong Kong's Hang Seng Index grew by 0.81% to 25,166.58, Japan's Nikkei 225 rose 0.28% to 64,793.48, Shanghai's SSE Composite Index increased 0.40% to 3,829.39, and Singapore's Straits Times Index advanced 0.44% to 5,557.08. In contrast, South Korea's KOSPI Composite Index dropped 5.80% to 6,685.26, and Indonesia's IDX Composite Index slipped 0.27% to 6,179.72.
Thong Pak Leng, vice-president of equity research at Rakuten Trade Sdn Bhd, noted that US Wall Street had stabilized after a turbulent week. Geopolitical tensions and high crude oil prices had contributed to a volatile week, alongside a shift away from the artificial intelligence-related segment. The situation eased after peace talks between the US and Iran resumed, facilitated by China and Pakistan, resulting in a reversal of Brent crude prices to below US$97 per barrel.
Thong anticipated that bargain hunting might emerge, with the index likely to hover between 1,695 and 1,710. Among the heavyweights, Public Bank increased by 11 sen to RM5.22, CIMB Group rose 12 sen to RM7.80, Maybank added 14 sen to RM10.92, Petronas Gas advanced 38 sen to RM17.78, and Maxis increased by six sen to RM3.58.
Active stocks showed mixed results. SNS Network Technology rose 4.5 sen to 56 sen, AIMAX remained unchanged at one sen, Tanco Holdings decreased by one sen to 25 sen, V.S Industry fell 1.5 sen to 23 sen, and Zetrix slipped half-a-sen to 69.5 sen.
Top gainers included Nestl©, which rose 96 sen to RM91.58, Malaysian Pacific Industries, up 62 sen to RM45.70, Far East, adding 25 sen to RM4.10, and Hong Leong Industries, increasing 20 sen to RM18.02. Meanwhile, United Plantations led the losers, dropping 44 sen to RM32.98, followed by Fraser and Neave, Dutch Lady Milk Industries, Ideal Capital, and BLD Plantation.
The FBM Emas Index increased by 92.36 points to 12,681.90, the FBMT 100 Index rose 99.22 points to 12,511.18, and the FBM Mid 70 Index added 63.11 points to 17,953.94. The FBM Emas Shariah Index climbed 56.51 points to 12,500.76, while the FBM ACE Index decreased by 29.77 points to 4,897.10.
In sectoral performance, the Financial Services Index advanced 216.97 points to 20,274.08, whereas the Energy Index fell 3.50 points to 770.33, the Industrial Products and Services Index edged down 0.34 of a point to 187.52, and the Plantation Index slipped 5.19 points to 9,295.79.