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KUALA LUMPUR, Mar 8 — Bursa Malaysia ended the morning session higher, lifted by buying interest in financial stocks and the positive sentiment brought about by the surging crude oil prices.
The local stock remained upbeat despite most of its regional peers retracing their gains after opening higher this morning, dealers said.
At 12.30pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) surged 23.13 points, or 1.45 per cent to 1,623.25, from 1,600.12 last Friday.
The market had opened 7.36 points higher at 1,607.48, and moved between 1,607.48 and 1,625.69 throughout the morning trading session.
Market breadth was positive with gainers outpacing losers 696 to 490, while 367 counters were unchanged, 619 untraded and eight others suspended.
Total volume stood at 5.84 billion units worth RM3.27 billion.
Regionally, Hong Kong’s Hang Seng Index fell 1.34 per cent to 28,708.93, Japan’s Nikkei was 0.46 per cent lower at 28,730.98, South Korea’s Kospi slipped 0.37 per cent to 3,015.15, while Singapore’s Straits Times Index advanced 1.78 per cent to 3,067.59.
A dealer said the local bourse stayed in the positive territory throughout the morning session, buoyed by the market’s optimistic sentiment on hopes for a faster economic recovery.
“Bank Negara Malaysia’s decision to maintain the Overnight Policy Rate continued to boost market interest for financial sector stocks, while crude oil prices’ solid run -- with the Brent crude surpassing US$70 per barrel — had also put oil and gas stocks in the limelight today,” he said.
Among the heavyweights, Maybank increased 18 sen to RM8.54, Public Bank added eight sen to RM4.43, Petronas Chemicals advanced 66 sen to RM8.48, Tenaga gained 10 sen to RM10.44 and IHH Healthcare improved two sen to RM5.35.
Of the actives, Sapura Energy and Velesto bagged 1.5 sen each to 16.5 sen and 19.0 sen, respectively, Dagang Nexchange gained 11.5 sen to 75 sen and its warrant added six sen to 36.5 sen, while Komarkcop slid two sen to 41.5 sen.
On the index board, the FBM Emas Index surged 133.86 points to 11,829.12, the FBMT 100 Index rose 129.51 points to 11,528.08, and the FBM Emas Shariah Index was 90.99 points higher at 13,026.82.
The FBM 70 increased 37.46 points to 15,386.11, while the FBM ACE slipped 42.16 points to 10,365.83.
Sector-wise, the Financial Services Index soared 293.80 points to 15,746.54, the Industrial Products and Services Index was 5.07 points better at 189.91, while the Plantation Index fell 17.02 points to 7,146.40. — Bernama
Source: Malay Mail
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